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Jack Ma's Ant Financial names new CEO to oversee IPO in 2017

This isn't the first time Alibaba and its affiliates have shuffled top management. Prior to Alibaba's 2014 IPO, Mr Ma stepped down as CEO to take on a more strategic planning role.

Hong Kong

ANT Financial, the online financial services giant controlled by billionaire Jack Ma, has appointed a new chief executive to steer its next phase of growth and orchestrate an initial public offering (IPO) that is expected next year.

Mr Ma's choice to lead the Alibaba