China Renaissance, one of the country’s leading investment banks, worked to calm anxious employees following the disappearance of its founder and renowned dealmaker Bao Fan.
Shares in the company fell 50 per cent when the market opened in Hong Kong on Friday before paring losses to be down about 28 per cent, after the boutique bank disclosed it was unable to contact Bao.
In a message sent to employees on Friday morning and seen by the Financial Times, Wang Lixing, head of investment banking, sought to ease concerns about Bao’s disappearance.
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