Guotai Junan Securities Co. Ltd. has suspended its president amid a government investigation, Caixin.com reported Thursday, citing unnamed sources.
Chen Geng was earlier reported to have offered to resign ahead of Guotai Junan’s planned listing on the Shanghai Stock Exchange.
Chen’s suspension came after the government’s discipline watchdog launched an investigation into unspecified offenses two months ago.
Chen, who has been president of the brokerage since October 2004, was part of a group that established the Shenzhen Stock Exchange. He worked in its listing department before he joined Guotai Junan in 1996.
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