$LU

JPMorgan Upgrades Lufax Holding to Overweight From Neutral

Lufax Holding CFO, Three Other Board Members Resign

Lufax Holding (LU) said Friday that four board members, including Chief Financial Officer Tongzhuan Xi, will step down from their respective posts effective Saturday, July 25, due to personal work commitments.Each of the four directors said they had no disagreement with the board and that there was no matter related to their departures that needed to be brought to shareholders' attention.The financial services provider has launched a search for a successor as CFO while assigning internal staff to interim CFO duties and naming Chief Executive Officer Xiang Ji as its authorized representative, the company said.The board appointed Wai Kin Chim as an independent non-executive director for an initial three-year term and added Koon Wing Ernest Ip to its nomination and remuneration committee effective Saturday, Lufax said.Price: $1.38, Change: $+0.01, Percent Change: +0.88%

JPMorgan Upgrades Lufax to Neutral From Underweight, Trims Price to $2 From $2.20