JD Mall's CEO Shen to lead global unit

JD.com Inc said Shen Haoyu, CEO of its JD Mall, will step down but will take over as president of JD International, effective immediately. Shen helped the e-commerce major thrive in spite of competition from China's No 1 online marketplace promoter Alibaba Group. The Beijing-based JD.com said Shen will relocate to the United States later this year due to family reasons. In his new role, Shen will be responsible for the company's international and cross-border efforts, including his current leadership role in the strategic alliance with Walmart.

Devalier new Japan economist for BoA

Bank of America Corp has hired Izumi Devalier from HSBC Holdings Plc as its chief economist for Japan, according to a Bloomberg report. Devalier, who worked as a Hong Kong-based economist at HSBC covering Japan and other Asian economies, will join Merrill Lynch Japan Securities Co as head of Japan economics in September. James Seddon, a Tokyo-based spokesman for Bank of America, confirmed the news. Devalier, who will be based in Tokyo, is replacing Masayuki Kichikawa, who joined Sumitomo Mitsui Asset Management Co earlier this year. Devalier has also worked in the investment banking division of Citigroup Inc in Japan.

HSBC Saudi divisions to get new chiefs

Abdulhadi Shahadah, head of asset management for HSBC Holdings Plc in Saudi Arabia, and Mazin Baghdadi, head of investment management in the kingdom, resigned from the London-based bank. An internal candidate has been identified to take over as the head of investment management, subject to regulatory approval, said a spokesman for HSBC Saudi Arabia Ltd. A new head of asset management will be announced shortly, he said.

Luke Ellis to succeed Roman as Man's CEO

Man Group has said Luke Ellis will succeed Emmanuel (Manny) Roman as CEO on Sept 1. Manny will step down from Man Group's board on Aug 31 in order to take up the role of CEO at PIMCO from Nov 1. Ellis has worked alongside Manny since 2012 as president of the firm. Jonathan Sorrell will continue as president of the firm alongside his role as CFO. Ellis was previously president of Man Group, having joined the firm in 2010, and a member of the Man Group Executive Committee. He is responsible for managing Man Group's four investment units, Man AHL, Man GLG, Man Numeric and Man FRM.

Doll to help Apple develop healthware

Apple Inc has hired Flipboard co-founder Evan Doll to help the world's largest publicly trading technology company develop more health-related software, according to Doll's LinkedIn profile. Doll became a director of health software engineering at Apple last month, according to LinkedIn, which doesn't expand further on his role. During his previous stint at Apple, from about 2003 to 2009, the software engineer helped develop the iPhone operating system. He left to found digital news magazine app Flipboard with Mike McCue.