Missing Chinese Banker Working With Gov't Probers

China Renaissance Holdings said in an exchange filing that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation, Eduardo Baptista reported for Reuters.

Photo Insert: (L-R) Fan Bao, Founder, Chairman, Executive Director and Chief Executive Officer of China Renaissance and Mr. Kevin XIE, Co-founder & Head of Healthcare Advisory hit the gong at the China Renaissance HKEX listing ceremony

This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder -- who was reported missing 10 days ago -- though no details about the investigation were shared.

"The Board would like to reiterate that the business and operations of the Group are continuing normally," the bank said in the exchange filing.

Reuters previously reported, citing sources, that authorities took Bao away earlier this month to assist in an investigation into a former colleague, Cong Lin, the company's former president.

Shares of the company slumped last week after it said in an exchange filing the company had been unable to contact Bao.

The dealmaker's disappearance is the latest in a series of cases of high-profile Chinese executives going missing with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping.

In 2015 alone, at least five executives became unreachable without prior notice to their companies, including Fosun Group Chairman Guo Guangchang, who Fosun later said was assisting with investigations regarding a personal matter.

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