Friday , October 22 2021

Alibaba’s Lazada hires Ant’s veteran

Bloomberg

Alibaba Group Holding Ltd’s Lazada Group is creating a new role to lead payments in Southeast Asia for the first time, and tapped a former Alipay executive for the position.
Dayong Zhang, former general manager of Southeast Asia for Ant Group Co’s Alipay, will become Lazada’s head of payments, the company said, confirming a report by Bloomberg News. The move underscores the e-commerce company’s effort to generate growth from the business.
Lazada is seeking to take on Southeast Asian internet rivals such as Grab Holdings Inc and Sea Ltd, which have been aggressively pushing their payment products.
The region’s payments market is expanding rapidly on the back of rising demand for online shopping.
“With his payments background and experience, he will be able to lead Lazada into the next chapter of its growth and further strengthen our competitive advantage through payments technology,” Lazada said in a written response to questions from Bloomberg.
James Chang, Lazada’s Singapore chief executive officer, will take on a broader regional role, becoming the group’s chief business officer.

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