Yangzijiang Financial Holding Ltd. announced cessation of Chiang Kheng Hong as Chief Risk Officer. Overseeing the strategic operations of the Group and managing corporate risk functions in Singapore, which encompass the investment management, fund and wealth management, and cash management sectors. Mr. Chiang is responsible for establishing a comprehensive risk framework that addresses investment risk, market risk, credit risk, and operational risk across the firm's portfolio.

Under the direction of the Audit and Risk Committee, he will provide effective and independent oversight of both financial and non-financial risk of the Group. Specifically, his duties include assisting the CEO and Board in formulating group risk policies, assessing the firm's risk tolerance, and creating strategic plans to mitigate risk. Reason For Cessation: As part of the reorganization, the Group will remove the position of Chief Risk Officer ("CRO").

Current CRO, Mr. Chiang Kheng Hong, will be reassigned to run the Group's Cash Management operations and will join the Group's respective Investment Committees to strengthen oversight over the Group's treasury and liquidity risk management. The Group's cash portfolio currently constitutes a significant portion of its total assets and plays the critical role of liquidity support to the other investment portfolios. Mr. Chiang has over 25 years of experience in treasury, financial markets, and risk management, and is well-qualified to manage the liquidity and capital of the Group.

These latest changes, which will take effect on 1 April 2024, are part of Yangzijiang Financial's efforts to further streamline the structure of the organisation following changes to its senior management team with the announced departure of its Executive Director and Chief Executive Officer (CEO), Mr. Toe Teow Heng, on 23 October 2023, who has remained at the helm to provide continuity during the transition period until his effective cessation on 24 April 2024.