360 Finance Announces Changes to Management

SHANGHAI, China, July 12, 2020 (GLOBE NEWSWIRE) -- 360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, today announced the appointment of Mr. Alex Xu as the Chief Financial Officer of the Company in replacement of Mr. Jiang Wu, and the appointment of Mr. Jiang Wu as the Chief Strategy Officer of the Company, effective immediately. Upon taking the new position, Mr. Jiang Wu will focus on assisting the Chief Executive Officer of the Company in making mid to long-term strategic planning and in facilitating the comprehensive cooperation between the Company and its important ecosystem partners such as banks in strategic cooperation relationship with us.

The Company also announced that Mr. Yan Zheng and Mr. Zhiqiang He, current Vice Presidents of the Company, have been promoted as the Chief Risk Officer of the Company and the Senior Vice President of the Company, respectively, effective immediately.

These management changes will enable the Company to better implement its growth strategy and to meet the needs of its future development as well as further strengthen its organization in the ever changing market environment.

Mr. Alex Xu has been serving as our Senior Advisor since October 2019. Mr. Xu has extensive experiences in capital market, corporate finance and business management. Prior to joining us, Mr. Xu served as the Chief Financial Officer of Dashu Financial Services Co., Ltd. from September 2018. He was a Co-Chief Financial Officer of Qihoo 360 (NYSE:QIHU) from February 2011 to August 2016. Prior to that, Mr. Xu was a Managing Director at Cowen & Company, LLC. He also served as the Chief Financial Officer of Yeecare Holdings in 2010, and from May 2008 to March 2010, as the Chief Strategy Officer of China Finance Online Co., Ltd. Mr. Xu was a Senior Vice President at Brean Murray, Carret & Co from 2007 to 2008. He was part of a top-ranked research team at Banc of America Securities, LLC from 2003 to 2007, and worked at investment research department of UBS AG from 2002 to 2003. Mr. Xu received his bachelor’s degree in Applied Physics from Beijing University of Posts and Telecommunications and an M.B.A. degree from Cornell University. Mr. Xu is a CFA charter holder.