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 The New York Times reports that a confidential email has emerged that shows a top Chinese regulator directly asked Jamie Dimon, the bank’s CEO, for a 'favor' to hire a young job applicant. The applicant, a family friend of the regulator, now works at JPMorgan.
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 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.
JPMorgan said Dimon had nothing to do with the decision to hire the young woman, described within the bank as well qualified. And like the C.E.O. of any large company, Dimon can be expected to meet with many people in a given day. According to a person briefed on the investigation, he is not suspected of any wrongdoing.
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