China Renaissance has begun a round of staff cuts, with China’s leading tech investment bank reeling from the authorities’ detention of its founder and main rainmaker Bao Fan last month.
The job losses come as the boutique investment bank finds its services for advising on mergers and shares sales crippled by Beijing’s crackdown on the tech industry.
China Renaissance has been slowly cutting employees for months as its business deteriorated, but this latest round could mark the largest headcount reduction in several years, according to people familiar with the matter.
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