25 May 2019

Probe into Wall St hiring practices in China widens, report says

Regulators in the United States have widened their investigation into the hiring practices of leading Wall Street firms in China, Bloomberg News said Monday, citing a report by the New York Times. Goldman Sachs Group Inc., Deutsche Bank A.G., Citigroup Inc., Morgan Stanley and Zurich-based Credit Suisse Group A.G. are facing investigations, which are at an early stage, the Times reported. Earlier, the newspaper reported that US authorities were investigating JPMorgan Chase & Co. over its hiring program. The probers were trying to find out if JPMorgan violated anti-bribery laws by hiring the children and other relatives of well-connected politicians and clients in China in exchange for having business awarded to the firm, Bloomberg said.

– Contact HKEJ [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe