The ambitious might wonder: what does it take to succeed in China? Finance appears to have an answer:
U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China. . . . Investment banks have a long history of employing the children of China’s politically connected. While close ties to top government officials is a boon to any banking franchise across the world, it’s especially beneficial in China, where relationships and personal connections play a critical role in business decisions.
Poor JP Morgan. Just as newspapers offer definitive lists of its legal troubles, another one pops up.