Hong Kong anti-corruption agency said to search JPMorgan office

Hong Kong’s anti-corruption agency searched a JPMorgan office in the city March 26 amid a U.S. investigation into the bank’s hiring practices, according to two people with knowledge of the matter.

Bloomberg reports that the Independent Commission Against Corruption seized computer records and documents after searching the office of Fang Fang, the company’s outgoing chief executive officer for China investment banking, said the people, who asked not to be identified because the investigation is confidential.

The bank announced Fang’s resignation March 24. His departure comes amid an investigation into JPMorgan’s Asian hiring practices. U.S. authorities are examining whether the bank employed people in Asia so that their relatives in government would steer business to the bank, people with knowledge of the probes have said.

Fang quit the bank as he wants to spend more time with his family, a person with knowledge of the matter said earlier.

To access the complete Bloomberg article hit the link below:

Hong Kong ICAC Said to Search Outgoing JPMorgan CEO's Office 

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