Park Avenue bank ran Chinese Communist Party cell: lawsuit

News Snapshot:

A Chinese Communist Party cell operates out of the Park Avenue headquarters of one of China’s largest investment banks, one of its top bankers claimed in an explosive court case. China International Capital Corporation, the US branch of the Beijing-based multinational investment firm, was accused of requiring allegiance to the CCP and “adherence to the Party beliefs” by top executives, according to a federal discrimination suit filed against the bank in 2022. American trader Andrea Bischof alleged she was denied promotion because she was not a member of the CCP or a Chinese national. And she accused the bank of...