StandChart China loses chief

Chen Fan, head of China activities for Standard Chartered Private Equity, has resigned.

Hong Kong-based Chen left to “pursue his own interests”, according to a spokeswoman. No replacement has been named.

Chen joined the bank in July 2004 and was responsible for its initiatives in China, Taiwan and Hong Kong. He was involved in deals such as Standard Chartered Private Equity’s investments in Chinese property developers Sino Ocean Real Estate Development, Shimao Property Holdings and Greentown China Holdings.

Previously, Chen was chief executive officer and managing director at Uni-Quantum Capital, a private equity and investment banking firm. He has also worked for investment bank China International Capital Corporation and Bank of China International (Asia).

This month, Standard Chartered Private Equity invested in Man Infraconstruction, an Indian construction company. Two months earlier, the firm also invested in Straits Resources, a Perth-based mine developer and operator.