A senior Nomura banker has been banned from leaving mainland China, a move connected to a long-running investigation into the country’s top tech dealmaker Bao Fan, according to people familiar with the matter.
The restrictions on Charles Wang Zhonghe, chair of investment banking for China at the Hong Kong arm of Japanese bank Nomura International, only applied to travel outside mainland China and he was not in detention, one person familiar with the matter said.
But the exit ban on a veteran Hong Kong-based banker of Wang’s standing will send a chill through China’s overseas business community, where foreign chamber of commerce surveys indicate investor confidence is already low.
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