As Bloomberg reported today, people familiar with the matter said that Alain Lam, one of Credit Suisse Group’s most outstanding executives in Asia, is about to join Chinese smartphone manufacturer Xiaomi as the chief financial officer (CFO).
A person familiar with the situation, who asked not to be named, said that Lam, the head of technology and media affairs of the Asia-Pacific investment banking and capital markets department at Credit Suisse Group, will take up his new position as early as early September. Zhou Shouzi, the former chief financial officer of Xiaomi, has been appointed as the president of international business.
Xiaomi declined to comment. Աnd a Credit Suisse representative said he could not immediately comment on this.
After Xiaomi released its third-quarter financial report last year, it issued an internal letter. It was propagating that Xiaomi’s senior management will make major adjustments. The former CFO Zhou Shouzi was transferred to the President of the International Department. Before the appointment of the new CFO, Zhou Shouzi temporarily served as CFO.
Upon enquiry, Alain Lam graduated from Oxford University in 1997 with a MEng degree. He is fluent in English, Mandarin and Cantonese. In 2015, he served as the head of the Asia Pacific Technology, Media and Telecommunications Department of Credit Suisse Investment Bank and Capital Markets. He was previously in 1997-2015. During the year, he served as managing director at Morgan Stanley.
Well, for many regular Mi fans, this news may not be so attractive. But the fact is Lei Jun and Xiaomi in general always try to involve the best managers in their model.