J.P. Morgan Chase & Co. pushed out two senior executives connected to an investigation into its hiring in Asia, making them the latest to leave the firm amid the burgeoning probe, according to people familiar with the bank’s actions.
The Wall Street Journal reports that Todd Marin, vice chairman of Asia Pacific investment banking, and Catherine Leung, vice chairwoman of Asia investment banking, will leave the bank in coming weeks but will stay on to transition out of their roles, two of these people said.
Both of the former bank executives’ stock options are vesting soon, and J.P. Morgan didn’t want them to receive them, the people said.
U.S. prosecutors and regulators are investigating the hiring practices in Asia of J.P. Morgan and several other banks, people briefed on the investigation have said.
Hit the link below to access the complete Wall Street Journal article: