China’s Ping An Insurance Group announced on announced on Thursday it has appointed former Citi Global Head of Retail Banking, Jonathan Larsen, as the new Chief Innovation Officer and CEO of Ping An Global Voyager Fund, a new $1 billion fund dedicated to fintech and healthtech.
According to Ping An, Larsen will be responsible for bringing technologies, platforms and business models to its businesses both in China and internationally. He will also leverage the company’s technology capabilities to add value and will identify new platforms to support the company’s international growth. Also sharing details about the Global Voyager Fund, Ping An stated:
“Ping An Global Voyager Fund will be managed from Hong Kong and will invest in fin-tech and health-tech businesses globally. Initial size of the fund will be USD 1 billion, with the ultimate goal to be an internationally leading technology investment pioneer. Among other things, the Fund will provide potential access for investee companies to Ping An’s 138 million customers, 1.2 million agents, 6,000 branches and extensive digital distribution assets in mainland China.”
While discussing Larsen’s appointment, Ping An Chairman and CEO, Peter Ma revealed:
“Mr. Larsen has a strong reputation as an innovator in the financial sector in Asia and globally. He brings a rare combination of global insight and management experience in both finance and technology. We are very pleased to have him as part of our leadership team.”
Larsen added:
“Ping An is the most innovative financial group in China, and a leader in China’s fin-tech and health-tech sectors. I look forward to helping Ping An access global innovations in finance and technology and build a global presence in fin-tech and health-tech. I feel privileged to be a member of Ping An’s leadership team and part of this unique organisation.”