Xiaomi Corporation has announced that it has selected Alain Lam as the Group’s Chief Financial Officer (CFO) and Vice President. He will commence his new role on October 8 2020, taking over from acting CFO Wang Xiang.

In a release on 27 August, Xiaomi said Lam, has over 20 years of investment banking experience, and previously served as a managing director of Credit Suisse in the Asia Pacific region, as well as the head of technology, media and telecom in the investment banking and capital markets department of the company.

Prior to this, he was a managing director at Morgan Stanley covering equity capital markets for technology, media and telecom in the Asia Pacific region. 

Lam replaces former CFO Chew Shou Zi, who also serves as Executive Director and Senior Vice President. Chew is now the President of International of Xiaomi.

As at 3.42pm, shares of Xiaomi were trading at 21.40 HKD ($3.77), 11.69% higher than its previous close of 19.16 HKD.