The Business Times
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Ex-Goldman banker eyes global market for Alibaba financial arm

Published Mon, Aug 1, 2016 · 09:50 PM

New York

WHEN Douglas Feagin decided to leave Goldman Sachs Group Inc after 22 years to run Ant Financial's global operations, his colleagues congratulated him. Then asked: "Wait, what does Ant Financial do?"

If Mr Feagin does his job right, his new employer will be internationally known soon enough. Ant is already a big player in China. The financial affiliate of e-commerce giant Alibaba Group Holding Ltd, Ant has 450 million customers, who use it to track shares, save money, invest in peer-to-peer lending and pay for things online via its Alipay service and much more. The company is kind of like Citibank, PayPal and ETrade rolled into one.

Goldman Sachs

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