BRIEF: China Renaissance international chief resigns after just eight months
Boutique investment bank China Renaissance Holdings Ltd. (1911.HK) announced on Tuesday that Lam Ka Cheong has resigned as an executive director to pursue new business opportunities.
Lam was only appointed as the company’s vice chairman in February and was mainly responsible for its international business. The company’s shares were suspended for more than a year after founder and chairman Bao Fan went missing, reportedly detained to assist in a corruption investigation, and was unable to sign its financial reports. Bao resigned from the company in February and was replaced by co-founder Xie Yijing, paving the way for trading in the company’s shares to resume.
Last month, Lam and the other three executives promised not to sell any of their 2.2% stake in the company before March 7 next year. Lam will not terminate the lock-up period following his departure.
By Lau Chi Hang
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