SHANGHAI, March 29, 2019 /PRNewswire/ -- China Rapid
Finance Limited ("XRF" or the "Company") (NYSE: XRF), a leading
fintech company that operates an award-winning microcredit company
and one of China's largest
consumer finance marketplaces, announced today the
strengthening of its leadership team with the appointments of
Steven Foo, Wilson Qin, and Quasi
Yao.
Steven Foo brings over 20 years of investment and financing
experience as well as financial management and restructuring work
experience in Asia. Previously,
Mr. Foo served as a member of the Board of Directors and Chief
Financial Officer of Hebron Technology, served as an Investment
Analyst at Deutsche Bank Alex Brown, worked as Chief Operating
Officer of Legg Mason Asset Management (Asia), served as CFO of Asia Pacific for London Asia Capital Plc, and
served as the Director of Asia
Pacific for International Alliance Associates (IAA), the
New York-based private equity
placement agent and cross-border strategic advisory firm. Mr. Foo
is a Fellow Chartered Accountant, and Certified Public Accountant
(CPA). In addition to his experience in U.S. Securities Exchange
Commission (SEC) compliance, Mr. Foo has extensive leadership
experience in strategy, financial management and capital markets.
Mr. Foo joined XRF as Chief Financial Officer as Lan Xie is pursuing a new opportunity.
Wilson Qin is a former Chief Information Officer of Noah
(China) Holdings Limited ("Noah"),
a leading wealth and asset management service provider, where he
oversaw information systems across major business lines. As CIO,
Mr. Qin designed Noah's IT strategy and successfully introduced
advanced technologies. He brings extensive experience in IT
management at financial services businesses. Previously, Mr. Qin
served as General Manager of Information Technology at PKU Founder
Life Insurance for ten years, and worked at Bank of East Asia for five years. Mr. Qin joined XRF
as Chief Technology Officer to oversee IT systems and to lead all
aspects of XRF's technological development.
Quasi Yao is a former Senior
Manager of Sino-US United MetLife Insurance Company Ltd.
("MetLife"), and brings more than a decade of experience in
business and strategic management of multinational corporations.
She served as Manager at AIA China, focusing on strategy and
business assessment. Previously, Ms. Yao spent more than six years
at Aetna International, where she led strategic initiatives to
deploy marketing systems in China.
Ms. Yao joined XRF to serve as Director of Strategy and Operations,
overseeing the Company's high-level strategic planning and
execution.
Russell Krauss, co-Chief Executive Officer and Vice
Chairman of the Company, commented, "We are delighted that each of
these talented executives has joined us. Steven brings
extensive financial, operational, and strategic leadership
experience to the Company. Combined with his deep knowledge of
the financial industry, his experience will be a valuable asset to
XRF as we enter our next phase of development."
Zane Wang, the Company's Founder,
Chairman and co-Chief Executive Officer, noted, "Wilson is an
exceptional leader with an impressive track record in a variety of
key technical functions. His track record includes successful
stints as the CIO of a leading wealth and asset management service
provider in China, and in senior
IT and business development roles in large national financial
institutions. His excellent experience and qualifications as an
expert in the integration of financial operations and technologies
makes him a perfect fit for this important role at XRF."
Russell Krauss added: "Accelerating our strategic
development is vital to our future in the fast-paced fintech market
in China. We are fortunate
to have attracted Quasi Yao to
assist in achieving our strategic vision. She will be a fantastic
addition who will help us to take our strategy and transformation
plans to the next level."
About China Rapid Finance Limited
China Rapid Finance (NYSE: XRF) is a leading fintech company
that operates an award-winning microcredit company and one of
China's largest online consumer
finance marketplaces. The Company enables affordable access
to digital credit for one of the world's largest untapped consumer
credit markets: China's
mobile-active consumers. Facilitating millions of loans annually,
the Company utilizes its proprietary, mobile-first technology to
select consumers for its platform. China Rapid Finance was founded
by Dr. Zane Wang, who has decades of
consumer credit industry experience in the U.S. and China. For more information, please visit
http://ir.crfchina.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "may," "will," "expects," "anticipates," "aims," "future,"
"intends," "plans," "believes," "estimates," "likely to" and
similar statements. Among other things, quotations from management
in this announcement, China Rapid Finance's financial outlook as
well as China Rapid Finance's strategic and operational plans
contain forward-looking statements. China Rapid Finance may also
make written or oral forward-looking statements in its reports
filed with, or furnished to, the U.S. Securities and Exchange
Commission, in its annual reports to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about China
Rapid Finance's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: unexpected
difficulties in China Rapid
Finance's pursuit of its goals and strategies; the unexpected
developments, including slow growth, in the consumer lending
market; reduced demand for, and market acceptance of, China Rapid
Finance's products and services; difficulties keeping and
strengthening relationships with borrowers or investors;
difficulties of expanding data and channel partnerships,
potentially costly servicing activities; competition in the
consumer lending market; PRC governmental regulations and policies;
and general economic and business conditions in the regions where
China Rapid Finance provides products and services. Further
information regarding these and other risks is included in
China Rapid Finance's reports
filed with, or furnished to, the Securities and Exchange
Commission. All information provided in this announcement and in
the attachments is as of the date of this announcement, and China
Rapid Finance undertakes no duty to update such information except
as required under applicable law.
Investor Relations Contacts:
Internal:
China Rapid Finance
Marlene Pan
Director of Investor Relations
Tel: +86 (21) 6032-5999
Email: IR@crfchina.com
External:
The Blueshirt Group
Gary T. Dvorchak, CFA
Tel: +1 (323) 240-5796
Email: gary@blueshirtgroup.com
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SOURCE China Rapid Finance