500.com appoints CFO to newly created president post

    500.com, an online sports lottery service provider in China, said chief financial officer Zhengming Pan, has been appointed to the new position of President.
    Pan will be succeeded as chief financial officer by Min Yu. Both appointments will be effective September 1, 2014.
    Yu previously served as a vice president at Deutsche Bank in Hong Kong, where he focused on equity, bond and M&A transactions and executions from 2010 to 2014. He was part of the Deutsche Bank team that worked on 500.com’s IPO in 2013.
    “We are pleased to appoint Mr. Pan to the new position of President and welcome Mr. Yu as we strengthen our senior management team,” said Vincent Law, chairman and chief executive. “Mr. Pan will take over the day-to-day running of our business allowing me to focus on the overall management of the company, our growth strategy and the substantial opportunities that we see ahead of us.”