Wanda Recruits Former Executives at Google China, Guangfa Bank

Billionaire Wang Jianlin’s Dalian Wanda Group Co. hired former executives at Alphabet Inc.’s Google and China Guangfa Bank Co. as part of a reorganization of the conglomerate’s internet and finance businesses.

The financial group will spin off its ffan payment card, Internet financing, credit-rating operations into a newly formed internet division, Wanda said in a statement on its website. Dong Jianyue, former chairman of Guangfa Bank, will head the remaining financial group, which will focus on traditional financial businesses such as banking, insurance and securities, according to Wanda.

Dong’s predecessor will run the internet arm, which will become Wanda’s fourth major business group -- the other three being finance, culture and property. Wanda has also hired John Liu, former president at Google Greater China, as vice president at the business, according to Liu’s LinkedIn page.

Wang, who’s made high-profile deals this year by buying the co-producer of “Jurassic World” and going after the company behind the Golden Globe Awards, has also been busy overhauling his conglomerate. Wanda announced this week it’s reorganizing its travel-agency assets and earlier this year made an unsuccessful attempt to merge its entertainment businesses.

    Before it's here, it's on the Bloomberg Terminal. LEARN MORE