Ant Financial CTO Cheng Li to replace Jeff Zhang as CTO of Alibaba Group -internal letter

SHANGHAI, Dec 19 (Reuters) - Ant Financial Chief Technology Officer Cheng Li will replace Jeff Zhang as the CTO of Alibaba, according to an internal company letter seen by Reuters.

Ant Financial is the financial services arm of the Chinese e-commerce giant Alibaba Group Holding Ltd.

Zhang will remain the chairman of the Alibaba Technology Committee, Dean of Alibaba’s DAMO Academy and president of Alibaba Cloud Intelligence, the letter added, which was written and signed by Alibaba Group CEO Daniel Zhang.

Earlier, Ant Financial said it had appointed Simon Hu as its new CEO, replacing Eric Jing. (Reporting by Josh Horwitz; Editing by Himani Sarkar)