Wells Fargo (NYSE:WFC) banker Chenyue Mao, who had been prevented from leaving China for several months, was allowed to return to the U.S. after talks between U.S. and Chinese officials, according to a media report on Wednesday.
The permission to leave the country was reported by Reuters, which cited two people with knowledge of the matter. Mao has left China, one of the sources said.
The exit ban was placed on the executive due to her involvement in a criminal case that required Mao’s cooperation with the investigation, China’s foreign ministry said in July.
The exit ban was lifted after U.S. and Chinese officials reached a deal in Madrid to transfer the ownership of TikTok to U.S. entities. It wasn’t clear whether the banker’s exit ban was discussed at the Madrid talks or if it was the subject of separate negotiations, Reuters said. The removal of the exit ban was first reported by the Washington Post.
In July, the Wall Street Journal reported that Wells Fargo had suspended travel to China for all of its bankers after Mao was prevented from leaving the country.