Top JPMorgan exec in China resigns amid hiring probe

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

The CEO of JPMorgan's (JPM) China investment bank operations, Fang Fang, is reportedly retiring after over 12 1/2 years at the firm.

The departure of Fang, who is 48, comes amid a U.S. probe into JPMorgan's hiring practices in Asia and particularly in China.

Fang has become a key figure in the investigations. He wrote emails that supported the recruitment of the son of China Everbright Group Chairman Tang Shuangning and that highlighted the potential of doing business with the state-backed conglomerate.