(This Aug. 28 story has been corrected to show that Haitong is one of the largest, not the largest, securities firm in China, in paragraph 1)
HONG KONG (Reuters) – The former investment banking head of one of China’s largest securities firms Haitong Securities has been arrested, the latest high-profile banker targeted during China’s crackdown on financial corruption.
Jiang Chengjun, who was deputy general manager and head of investment banking at Shanghai-based Haitong, was arrested overseas and taken back to China due to suspected job-related crime, according to a Central Commission for Discipline Inspection announcement on Wednesday.
The arrest is the latest of a string made during high-profile investigations into the country’s financial elite as Beijing stepped up scrutiny over the last two years.
Bao Fan, founder and former CEO of China’s financial advisor China Renaissance, was taken away by Chinese authorities and has not been seen by colleagues since February 2023.
Haitong did not immediately respond to emailed requests for comment.
(Reporting by Selena Li; Editing by Jan Harvey)
