Andrew Lo has been named chairman of LET Group Holdings Limited—previously known as Suncity Group—as well as its affiliate Summit Ascent Holdings Limited, per the two companies.
Lo had previously served as deputy chairman of the board since December of last year, following the arrest and resignation of former chairman Alvin Chau. Chau’s previous holdings in the companies were also acquired by Lo back in May.
With regards to Summit Ascent, Lo receives an annual salary of $153,000 as well as an additional $306,000 in bonuses and rental payments, per the employment agreement.
