Yangzijiang Financial general counsel to leave by year-end

MAINBOARD-LISTED Yangzijiang Financial Holding (YZJ Financial) general counsel Koh Boon Chiao will be leaving the organisation at the end of this year to “pursue other opportunities”, amid a slew of management changes in the company. 

The 43-year-old will be leaving after one year and three months at YZJ Financial. His last day of service will be on Dec 31. 

In the meantime, the company is in the process of searching for a new candidate to cover regulatory compliance matters in Singapore and will provide further updates in due course, it said in a bourse filing on Wednesday (Nov 1).

The news comes less than two weeks after the company announced that its chief executive officer Vincent Toe will be leaving in April next year to “pursue other opportunities”. Executive chairman Ren Yuanlin, who is also the founder and largest shareholder of Yangzijiang Shipbuilding , will assume the role of CEO after Toe departs.

In a separate announcement, YZJ Financial said its China chief investment officer Peng Xingkui will be reassigned to a new role within the group while remaining a member of its investment committee. 

Shares of YZJ Financial closed at S$0.315 on Wednesday, down 1.6 per cent or S$0.005, prior to the announcement.