Amid hiring inquiry, JPMorgan executive in China to retire

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Posted: Tuesday, March 25, 2014 12:00 am

HONG KONG — One of JPMorgan Chase’s top deal makers in China and a focus of the U.S. government’s investigation into the bank’s hiring practices in China is resigning, according to an internal memo sent to staff on Monday.

Fang Fang has spent more than a decade at JPMorgan.

Since last year, the bank has been the subject of a federal bribery investigation in the United States that is looking into whether the bank’s “Sons and Daughters” hiring program violated the Foreign Corrupt Practices Act by linking the employment of the children of senior Chinese officials and business leaders to winning roles on investment banking deals.

Neither Fang nor any JPMorgan executives have been accused of wrongdoing as a result of the U.S. investigation.

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