JP Morgan Chase Hiring Practices In India Under Scrutiny

New York: The U.S. authorities are believed to be scrutinizing the hiring practices of banking giant JP Morgan Chase in India, South Korea and Singapore following a probe into its activities in China regarding hiring children of powerful officials to win lucrative business deals.

A report in the New York Times said that the federal investigation into the hiring practices of JPMorgan Chase appears to be expanding beyond China into other Asian markets.

In a filing with Securities and Exchange Commission, the bank disclosed that the federal regulator and the Justice Department were now looking into "its business relationships with certain related clients in the Asia Pacific region and its engagement of consultants in the Asia Pacific region."

While JPMorgan did not specify the countries where the inquiries were directed, the NYT report cited people briefed on the matter as saying that government authorities are examining JPMorgan's hiring practices throughout Asia, focusing on South Korea, Singapore and India.

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