Head of China Development Bank's Hong Kong branch suspended over Ping An deal

The head of China Development Bank's Hong Kong branch has been suspended after a U-turn by the state-owned lender over its proposed involvement in a deal for HSBC's stake in Ping An Insurance.

CDB is understood to have backed off from its plan to provide loan support for a US$9.4 billion bid by a Thai conglomerate for HSBC's holding in the mainland's No2 life insurer.

via Business feed http://www.scmp.com/news/article/1124191/head-china-development-banks-hong-kong-branch-suspended-over-ping-deal