Investment bank China Renaissance Holdings said it had lost touch with Mr Bao Fan, its prominent founder. Read more at straitstimes.com.
BEIJING – When the investment bank China Renaissance Holdings said it had lost touch with Mr Bao Fan, its prominent founder, it sent shudders through the investment community.
A former Morgan Stanley and Credit Suisse banker, Mr Bao is well-known in China’s business circles for his sprawling connections across industries. Often times, the companies themselves report they have lost contact with the boss and need to make their own inquiries into what happened within China, a country that has opaque disciplinary procedures.It’s not uncommon for executives in China to become unreachable when they’re involved in a government probe. Some were later found to have been detained by authorities, while others eventually returned to their jobs.
In August 2018, casino operator Landing International Development reported its then-chairman Yang Zhihui had disappeared. But he then returned to the job three months later with the explanation that he was assisting authorities with an investigation. In November 2022, however, Landing said it had suspended Yang after the Securities and Futures Commission of Hong Kong started legal proceedings against him alleging he had breached fiduciary duties related to other business dealings.4.
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