Ant Mulls holding company with regulation similar to the bank

Jack Ma is besieged Ant Group Co. plans to turn its financial operations into a holding company that can be regulated more like a bank, according to people familiar with the situation, potentially paralyzing the growth of its most profitable units.

The fintech giant plans to move any unit that needs a financial license into the holding company, pending regulatory approval, said the people, who asked not to be named because the case is private. The people say the plans are still under discussion and subject to change. Ant declined to comment.