Lufax Holding Ltd (NYSE: ) announced changes to its board of directors effective April 14, 2026, according to a company statement.

The financial services company said Rusheng Yang and David Xianglin Li will not be nominated for re-election as independent non-executive directors when their terms expire on April 13, 2026. Both directors will cease serving on board committees.

Lufax appointed Koon Wing Ernest Ip and Siu Hong Cheng as independent non-executive directors effective April 14, 2026. Ip will serve as chairman of the audit committee, while Cheng will serve as a member of the audit committee. Fangfang Cai will serve as a member of the nomination and remuneration committee.

Ip, 65, brings over 40 years of accounting and auditing experience, including 34 years at PricewaterhouseCoopers Hong Kong where he retired as a partner in 2019. He subsequently joined Fung Group as Group Chief Financial Officer. Ip currently serves as an independent non-executive director of Media Chinese International Limited and holds positions with Ping An Digital Bank and OneConnect Financial Technology Co., Ltd.

Cheng, 66, has more than 35 years of financial industry experience. He worked at Hong Kong and Shanghai Banking Corporation Limited for 36 years until 2019, serving as Chief Operating Officer for the Asia Pacific region from 2010 to 2019. Cheng currently serves as an independent non-executive director of Hong Kong Interbank Clearing Limited.

The board changes were proposed by the company's nomination and remuneration committee after considering internal control enhancement needs and corporate governance requirements.