(Yicai Global) July 11 -- Sang Ziguo, assistant to the president of one of China's biggest asset managers, China Great Wall Asset Management, is under investigation for graft.
Sang is suspected of serious violations of the law -- China's formal term for corruption -- the Central Commission for Discipline Inspection and National Supervisory Commission said online yesterday. They did not disclose exactly what he may have done wrong.
The arrest comes on the tail of a probe into another employee at a 'big four' Chinese asset management firm: Lai Xiaomin, former chairman of China Huarong Asset Management. At least 20 senior officials at Chinese financial regulators and institutions have now been the target of corruption probes since 2017.
Sang, who holds a doctorate degree, joined Great Wall in 2011 and has been assisting its president, currently Chun Zhengwan, since 2015, deal with investment banks and equities. He worked at Huarong for two years before moving to Great Wall.
Editor: James Boynton