China Renaissance, founded in 2005, is led by Chinese investment banker and investor Fan Bao.
In Bloomberg Markets’ list of the 50 Most Influential in 2015, Bao was number 22.
In a Sunday market report, China Renaissance Holdings said that its missing chairman and top dealmaker, Bao Fan, assisted Chinese authorities in their inquiries.
The boutique bank on the Chinese mainland has finally provided an explanation for the disappearance of its founder, but no information on the probe was provided.
The bank highlighted in the exchange stated that “The Board would like to stress that the operations and activities of the Group are operating consistently.”
According to sources cited by Reuters, authorities withdrew Bao at the beginning of this month to help with the inquiry of the former firm president Cong Lin.
Shares dropped last week after an exchange filing disclosed the company could not contact Bao.
The dealmaker’s disappearance is the most recent in a succession of prominent Chinese businessmen who have vanished mysteriously due to President Xi Jinping’s anti-corruption campaign.
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