Handelsblatt Exclusive

The Chinese Prince

Picture for China piece
Frank Wan (left) with business partner Charles Rosier of BTG Pactual (second from left) and Florentino Pérez (background), meet French footballer Zinédine Zidane in 2012.
  • Why it matters

    Why it matters

    An exclusive Handelsblatt report raises questions about BTG Pactual Bank’s use of a Chinese intermediary with supposed family connections to the chairman of a powerful Chinese state-run investment fund.

  • Facts

    Facts

    • Wan Fang, a Chinese intermediary with supposed family connections to the chairman of the China Investment Corporation, a powerful a state-run investment bank, was hired as a consultant by BTG Pactual, a Brazilian bank.
    • Mr. Wan apparently helped BTG Pactual obtain a $300 million investment from CIC.
    • Mr. Wan reportedly belongs to a class of influential financial intermediaries in China called “princelings,” who exploit family connections to powerful government and state officials for foreign investors.
  • Audio

    Audio

  • Pdf

 

It was a celebration of European soccer, and a night to remember. Things were as fans of Real Madrid wished they always would be. Their team had just finished off opponent Apoel Nikosia from Cyprus 5:2 in the quarter finals of the UEFA Champions League. Superstar Christiano Ronaldo scored one goal with his knee, one with a free kick. Now, on this night of April 4, 2012, the players were celebrating. Real’s sporting director, the French soccer legend Zinédine Zidane, and the club’s president, Florentino Pérez, took time for a victory lap of their own.

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