Hywin Holdings, one of China's largest wealth managers by market share, listed on NASDAQ in March this year.

Hywin Holdings, the Chinese wealth management group, has approved the appointment of Wai Lok (Lawrence) as chief financial officer, with effect from yesterday.

The company said that it is bolstering “its commitment to international standards of corporate governance and shareholder value” after listing on NASDAQ in March this year.

Meanwhile, Zhou Huichuan, the previous CFO, will assume the role of vice president of strategic projects.

Prior to joining Hywin, Lok was a senior investment banker at Citigroup, where ge led IPOs, private fundraising, mergers and acquisitions and other major transactions for technology, media and telecom companies and financial service groups in China and other parts of Asia. He has had over 15 years of professional investment banking experience working in the US and Hong Kong.  

Lok graduated from the University of California, Berkeley with a BA in economics and a BS in business administration.     

“Mr Lok will deploy his strong capital markets' expertise to strengthen our shareholder value-centric business strategy and broaden our conversations with the international investor community. Mr Lok’s experiences in mergers and acquisitions will also be useful to Hywin’s pursuits of growth via both organic and inorganic avenues,” Madame Wang Dian, chief executive officer of Hywin Holdings, said. 

Hywin said that it is the third largest independent wealth management service provider in China, with a 7.5 per cent market share in terms of 2019 transaction value, according to China Insights Consultancy.