Top Chinese Regulator Personally Asked Jamie Dimon To Hire A Family Member

[jsr]

http://dealbook.nytimes.com/2014/02/09/chinese-official-made-job-plea-to-jpmorgan-chase-chief/

Chinese Official Made Job Plea to JPMorgan Chase Chief
By JESSICA SILVER-GREENBERG and BEN PROTESS

The executive suites of JPMorgan Chase in Midtown Manhattan may seem a world away from the politically connected Chinese job applicants who landed on the bank’s payroll.

But a confidential email has emerged that shows a top Chinese regulator directly asked Jamie Dimon, the bank’s chief executive, for a “favor” to hire a young job applicant. The applicant, a family friend of the regulator, now works at JPMorgan.

Mr. Dimon met the applicant in June 2012, according to interviews and the previously unreported email, one of several documents that JPMorgan recently turned over to federal authorities as part of an investigation into hiring at the bank. At the meeting with Mr. Dimon in New York, the applicant acted as an interpreter for the Chinese insurance regulator. JPMorgan bankers in Hong Kong, hoping to help her job prospects, knew in advance that she would attend.

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 banks.

[Romulox]

1. And then from JP Morgan to the innermost halls of the White House?

[Autumn]

2. Well that's just a fucking shocker. JP Morgan/ White House

[Warren Stupidity]

3. Obviously he studied the American model of political

corruption and thought he should participate fully.