Date
17 October 2017

CIRC boss asked JPMorgan CEO to hire family friend, paper says

China Insurance Regulatory Commission chairman Xiang Junbo was said to have asked JPMorgan Chase chief executive Jamie Dimon to do him a “favor” by hiring a young job applicant, a family friend of the Chinese official, the New York Times reported Monday, citing a confidential email. The email was among the documents that the company turned over to federal authorities investigating the bank’s hiring practices amid suspicions that it hired several well-connected individuals specifically to win business from Chinese companies. Dimon met the job applicant in New York in June 2012, during which she acted as interpreter for Xiang, according to the newspaper. According to JPMorgan, Dimon had nothing to do with the decision to hire the young woman, described within the bank as well qualified, the report said.

 

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