AIA Rises as Incoming CEO Seen Boosting China Growth, Fintech
- New CEO Lee Yuan Siong to join from rival insurer Pang An
- Handover to occur mid-2020 when Ng Keng Hooi steps down
This article is for subscribers only.
AIA Group Ltd. shares rose in Hong Kong trading as investors welcomed the appointment of a new chief executive officer, who is seen as well-placed to lead a faster expansion in China.
The stock jumped as much as 3.8% in early trading Monday, after industry veteran Lee Yuan Siong was named the next CEO, replacing Ng Keng Hooi. Lee joins from rival Ping An Insurance (Group) Co., where he was co-CEO and chief insurance business officer.