- The NYT has more about JPMorgan's (JPM) hiring practices in China, publishing emails showing that executives started hiring the relatives of well-connected officials because it was losing business to its rivals who had already made such recruitments.
- "We lost a deal to DB today because they got (the) chairman's daughter (to) work for them this summer," lamented one JPMorgan executive about missing out on a lucrative contract to Deutsche Bank (DB) in 2009.
- JPMorgan, Deutsche Bank, UBS (UBS) and a number of other banks are under investigation for their recruitment policies in China and elsewhere.
JPMorgan began recruiting the well-connected after losing deals
Dec 30 2013, 05:10 ET