J.P. Morgan execs knew of China hiring issue before investigation

Legal and compliance executives at J.P. Morgan Chase (JPM.NYSE) in New York were aware of possible issues with the bank’s hiring of the progeny of a senior Chinese official a year before the US Securities and Exchange Commission began an investigation into the matter, The Wall Street Journal reported, citing documents it had reviewed and unnamed sources familiar with the matter. A bank official alerted several executives of anonymous accusations that the hiring helped it win an investment-banking assignment, according to emails reviewed by the Journal showing that J.P. Morgan officials later discussed those accusations and dismissed them.