JPMorgan emails show China family hires made to win deals: NYT

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JPMorgan emails show China family hires made to win deals: NYT

JPMorgan emails show China family hires made to win deals: NYT

What now? How much longer will this corruption go on?


Reuters-

Internal JPMorgan Chase & Co (JPM.N) emails and computer files being examined by U.S. authorities show that the bank favored hiring people from prominent Chinese families in order to win investment banking business, the New York Times reported on Saturday.

The documents show that a JPMorgan program designed to prevent questionable hiring practices was ultimately viewed inside the company as “a gateway to doing business with state-owned companies in China,” the Times said, adding that it had reviewed copies of the emails and computer spreadsheets.

In one email, an executive said that hiring sons and daughters of powerful people in China “almost has a linear relationship” with winning assignments, the Times said.

[REUTERS]

image: REUTERS

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