FINANCE

Ex-Citic Executive Probed Amid Finance Corruption Crackdown

Published: Nov. 19, 2025 4:21 p.m. GMT+8

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Chen Jun.

A former senior executive at Citic Securities Co. Ltd., one of China’s largest investment banks, has been taken away for investigation by authorities amid Beijing’s sweeping anti-corruption campaign targeting the financial sector, Caixin has learned.

Chen Jun, a veteran investment banker and once a member of the firm’s powerful executive committee, was taken away about two weeks ago, sources familiar with the matter told Caixin.

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Former Citic Securities executive Chen Jun is under investigation amid China’s financial anti-corruption campaign.
The probe is possibly linked to Yang Jiaohong, a former regulator accused of corruption and connected to Chen’s private equity firm, Jundu.
Other Citic Securities staff, including Zhao Liang, are also reportedly under scrutiny; the case follows past probes after the 2015 stock market crash.

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Who’s Who

Citic Securities Co. Ltd.: Citic Securities Co. Ltd. is one of China's largest investment banks. A former senior executive, Chen Jun, was recently investigated amid an anti-corruption campaign. He joined in 1997, became an executive committee member in 2013, but left after a 2015 stock market crash inquiry. His case might connect to former IPO overseer Yang Jiaohong's corruption investigation.

Jundu: Jundu is a private equity firm that manages between 2 billion and 5 billion yuan. It is controlled by Chen Jun, a former senior executive at Citic Securities Co. Ltd. Many of Jundu's staff previously worked under Chen at Citic Securities. It has been reported that Yang Jiaohong, a former IPO overseer, held a stake in Jundu through an arrangement facilitated by Chen.

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What Happened When

December 2015：: Chen Jun was taken away by authorities as part of an investigation into alleged market manipulation after the 2015 stock market crash.

About two months after December 2015：: Chen Jun returned to work at Citic Securities after assisting with inquiries but was no longer able to advance at the company.

Early 2016：: Citic Securities replaced its senior leadership and Chen Jun departed from the company.

Late 2024：: Yang Jiaohong, former IPO overseer at the China Securities Regulatory Commission, was placed under a corruption investigation.

By early November 2025：: Chen Jun, former senior executive at Citic Securities, was taken away for investigation amid a sweeping anti-corruption campaign.