Renaissance Appoints Founder’s Wife as New Chair Amid Continued Absence of Bao Fan: A Strategic Shift in China’s Investment Landscape

The founder's spouse of Renaissance has been appointed as the head of the investment bank, while Bao Fan continues to be unaccounted for. Hui Yin-ching, also recognized as Xu Yanqing, was named as the bank's board chairperson and executive director starting from October 9, as stated by Renaissance.

China Renaissance Holdings, known for orchestrating some of the biggest tech mergers in China, has named the spouse of its founder, Bao Fan, as the new chairperson. This move comes over a year after the investment banker vanished from the public eye.

The Beijing-based financial services group announced yesterday evening that Hui Yin-ching, who is also recognized as Xu Yanqing in mainland China, has been appointed as the chairperson and executive director as of October 9.

Renaissance announced that Hui, aged 54, will take the reins of the company's strategic planning, primarily focusing on the wealth management sector. He will guide its growth in budding markets and oversee the company's investor relations.

Hui has been intimately engaged in founding Renaissance, playing a pivotal role in propelling its expansion and observing its evolution into the prosperous company it has become today," the company stated.

Utilizing her leadership skills and connections, Hui has brought important customers and investors to the company, including a number of family businesses to the wealth management department. Her addition to the team will aid in the group's attainment of higher business accomplishments moving forward, the company stated.

Shares in China Renaissance experienced a 1.1 per cent decrease, closing at HK$3.62 in Hong Kong's Thursday trading session. The shares had previously seen a significant rise of up to 9.3 per cent, reaching HK$4. However, the firm's market value has dwindled by 50 per cent over the last year, as per Bloomberg's data.