Simon Hu (left) Image Credit: Arshad Ali/Gulf News

Beijing: The chief executive of Chinese fintech giant Ant Group has stepped down for "personal reasons", a spokesperson from the Alibaba-affiliated online payment provider said Friday, amid growing regulatory scrutiny.

Simon Hu has been replaced as CEO by Ant Group executive Eric Jing, according to the company's updated website, just months after Chinese authorities pulled the plug on the company's colossal Hong Kong IPO.