US authorities have started a bribery investigation into whether JP Morgan hired the children of powerful Chinese officials...

US authorities have started a bribery investigation into whether JP Morgan hired the children of powerful Chinese officials to help the bank win business in the Asian nation, the New York Times has reported, citing a confidential US government document. In one instance, the bank allegedly hired the son of a former Chinese banking regulator who is now the chairman of the China Everbright Group, a state-controlled financial conglomerate. After the chairman’s son came on board, the US banking giant secured several coveted assignments from the Chinese conglomerate, including an advisory job for one of its subsidiaries.