The episode underscores the dual forces driving JPMorgan and other Wall Street banks to hire the family and friends of China’s ruling elite. The banks sought to build good will with Chinese officials, who, in turn, expected favors from the...
The credibility of the Chinese political and economic system has always rested partly on its assertion that it is a well-functioning meritocracy. With the investigation of nepotism between JPMorgan and China’s Railway Ministry, that image...
Federal authorities have opened a bribery investigation into whether J.P. Morgan Chase hired the children of powerful Chinese officials to help the bank win lucrative business in the booming nation.
