The Huffington Post – JPMorgan Hit By U.S. Bribery Probe Into Chinese Hiring: Report – 18 August 2013

The Huffington Post

(Reuters) – U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China, according to the New York Times.

Investment banks have a long history of employing the children of China’s politically connected. While close ties to top government officials is a boon to any banking franchise across the world, it’s especially beneficial in China, where relationships and personal connections play a critical role in business decisions. / link to original article

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