JP Morgan Chase hired friends and family members of executives at three quarters of the major Chinese companies it took public in Hong Kong during a decade-long boom in Chinese IPOs, according to a document compiled by the bank as part of a federal bribery investigation.
The document was prepared by JP Morgan to be submitted to US investigators in April, according to a person familiar with it, and analysed by The Wall Street Journal. It lists 222 candidates hired by the bank under a programme known internally as "Sons and Daughters" and names the people who referred them-making it the most detailed accounting yet of the overlap between the programme and the bank's business in China.