China bans Nomura senior investment banker

HONG KONG, Sept 25 (Reuters): Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said.
The ban comes as concerns grow among Western businesses about darkening prospects in the world's second-largest economy at a time of slowing growth, coupled with new laws that make for tougher operating conditions.
Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media.
It was not immediately clear when the exit ban took effect. Wang was based in Hong Kong, his LinkedIn profile showed, though his nationality was not immediately known.
A Tokyo-based spokes-person for Nomura declined to comment. Wang did not respond to a Reuters request for comment sent via the LinkedIn social network.
The Financial Times newspaper, which first reported the matter, citing sources, said the ban was connected to China's investigation into top tech dealmaker Bao Fan and his former colleague Cong Lin.
Beijing is investigating Cong, former president of China Renaissance Holdings, which resulted in the investment bank's founder Bao being taken away in February, a development that stunned the business community.