Alibaba, China’s biggest e-commerce company, has hired former investment banker Michael Yao for a new role as head of corporate finance, according to sources.
The move, which comes after the company took its business-to-business unit Alibaba.com private earlier this year and completed the repurchase of half of Yahoo’s 40% stake last month, suggests that the group intends to remain active in terms of MA and capital markets transactions.
FinanceAsia understands that Yao will act as an interface with outside financial advisers on these types of transactions and will also manage the group’s relationships with investors and lenders. He will report to chief financial officer...
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