SHANGHAI -- Ant Group will reorganize much of its operations under the umbrella of a financial holding company for transparency at the behest of Chinese regulators, a source with knowledge of the situation told Nikkei.
Its loan intermediary business and sales of mutual funds and insurance would become subsidiaries of the holding company, with Ant, the fintech affiliate of Alibaba Group, as the parent. The restructuring would also cover MYbank, an online lender to small and midsize companies, and likely Tianhong Asset Management, operator of the Yu'ebao money market fund.
