Star Banker's Disappearance Unnerves China's Business Elite
This article from Bloomberg may be of interest. Here is a section:
Increasingly in China, a suddenly absent boss has come to signal a crackdown or investigation by authorities. In many cases, the person is said to be “assisting” graft probes.
Publicly listed companies typically report they have lost contact with the executive and need to make their own inquiries into what happened within the country’s opaque legal system.
A suave and outspoken dealmaker, Bao built China’s pre- eminent tech-focused investment bank. He convinced a Jack Ma-backed company to become a cornerstone investor when his firm went public in 2018 and has been the go-to banker for the biggest tech stars.
Bao is among China’s “western-educated individuals with lots of connections with the global financial elite,” said Victor Shih, an associate professor at University of California San Diego who specializes in China’s banking policies. “We don’t see those types suddenly running into such serious trouble that
Bao studied English literature at China’s prestigious Fudan University and received a master’s degree in business and economics from the BI Norwegian School of Management in 1995. He once said it was his mission to “participate in the value creation of the greatest entrepreneurs” in China.
A former banker at Morgan Stanley and Credit Suisse Group AG, Bao founded China Renaissance in 2005, making a name for the firm by brokering tough mergers that led to the formation of ride-hailing service Didi Global Inc. and food-delivery giant Meituan.
When China accompanied the abandonment of Covid-zero with dovish rhetoric towards the markets, the USA, and signaled additional assistance to the domestic economy, investors breathed a sigh of relief.Click HERE to subscribe to Fuller Treacy Money Back to top