China’s Ant Group has hired The OB-C Group, which was founded by long-time Democratic operative Lawrence O’Brien.
Ant Group is the fintech arm of Alibaba Group, which was founded by Jack Ma.
Its Airpay app payment system has a billion users in China and a retailer base of 80M.
Chinese regulators scotched a public offering for Ant Group that was slated for the Shanghai Stock Exchange in 2020.
It was pitched as the largest-ever IPO ($37B) and would have given Ant Group a market value of more than $300B.
OB-C Group is to deal with US regulatory matters concerning Ant Group and Airpay. It also will handle any corporate issues faced by Airpay.
O’Brien served in the Carter administration and is a top fundraiser for House and Senate Democrats.