Bao, 52, is one of China’s most prolific dealmakers. He is known for being able to broker difficult M&A cases, such as ones that led to the formation of Didi Global and Meituan. A former Morgan Stanley and Credit Suisse banker, Bao is well known in China’s business circles for his sprawling connections across industries. Although Beijing-based China Renaissance, which is listed in Hong Kong, said on Feb 16 that its operations remain unaffected by Bao’s absence, the news sent its stock down as much as 50% the following morning. Bao’s family has been told he was assisting with an investigation — likely related to former China Renaissance President Cong Lin, a person familiar with the matter told Bloomberg News.
When the investment bank China Renaissance Holdings said it had lost touch with Bao Fan, its prominent founder, it sent shudders through the investment community. Many feared it is a sign another clampdown on the country’s financial industry may be in the works, with new banking and securities watchdogs coming this year. It’s not uncommon for executives to go “missing” in China, a country with a murky legal system. Sometimes they return to work, sometimes they go to prison. According to Financial Times, Bao was in the midst of setting up his own family office in Singapore. Here’s what’s known about Bao:
1. Who is Bao Fan and what do we know about his absence?
