Bao Fan: Missing China billionaire banker resigns from all roles
After almost a year absent, Chinese billionaire banker Bao Fan has resigned from all posts at China Renaissance Holdings.
He resigned "for health reasons and to spend more time on his family affairs," the bank said.
Last February, Mr. Bao disappeared without explanation, shocking China's business and investing world.
China Renaissance stated he was collaborating with investigators days later.
In its newest filing, the company said co-founder Xie Yi Jing will take over Mr. Bao's top positions.
Bao "has 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" , said.
China Renaissance claimed in February: "The board has become aware that Mr Bao is currently cooperating in an investigation being carried out by certain authorities in the People's Republic of China."
China Renaissance gave its founder's missing explanation for the first time.
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