China Renaissance Founder Released From Investigation
The founder of investment bank China Renaissance has reportedly been set free more than two years after cooperating with authorities.
China Renaissance founder Bao Fan has been released by mainland authorities after he started cooperating in an unspecified investigation over two years ago, according to a report by Chinese media outlet «Caixin» citing multiple sources.
This marks the potential end to the saga, which began with the billionaire banker and top tech dealmaker disappearing from public sight for two days in early 2023 before it was revealed that he was helping authorities in a probe. During this two-year period, Bao resigned as chairman and CEO of Hong Kong-listed China Renaissance, which experienced share price pressures.
Prior to founding the investment bank in 2005, Bao worked at Morgan Stanley and Credit Suisse.
