China Renaissance’s Billionaire Founder Bao Fan Steps Down

Bao Fan, the billionaire founder and chairman of private investment bank China Renaissance Holdings Ltd., has stepped down from the company, nearly a year after his disappearance sent jitters through the country’s financial market and corporate world.

Hong Kong-listed China Renaissance said in a Friday filing that Bao has resigned as chairman and chief executive along with his other duties in the company “for health reasons and to spend more time on his family affairs.”