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Bao Fan resigns from China Renaissance Holdings following 2023 investigation, disappearance
- An exchange filing cites ‘health reasons’ and the desire to ‘spend more time with family’ as reasons for the resignation
- Bao disappeared in February last year as part of an unspecified investigation by Chinese authorities, causing the company’s shares to tumble
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Chinese financier Bao Fan has resigned as chairman and CEO of investment bank China Renaissance Holdings, citing “health reasons” and the desire to “spend more time with family”, an exchange filing on Friday showed.
The 53-year-old has been involved in an unspecified investigation by mainland authorities since February 2023. The highly influential deal maker in the tech industry suddenly disappeared, causing the company’s shares to tumble after he became “uncontactable”.
Bao had no disagreement with the board and “there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the company”, the filing said.
China Renaissance is one of the largest investment banks in China, with more than 400 employees in Shanghai, Hong Kong and New York.
The resignation went into effect on Friday.
“The Board expresses its deep gratitude for Mr. Bao’s efforts and dedication to the company during the tenure of his service,” the company said in the filing.
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