Fang Fang has resigned as chief executive officer of China investment banking at jp morgan, amid an ongoing investigation by US authorities into how the bank and its rivals hire Asia-related staff who may have blood ties to government officials. Vice chairman of investment banking for China, Brian Gu, and head of financial institutions for emerging Asia, Jing Zhao, have been named co-heads to replace Fang. Frank Gong, vice chairman of investment banking for China, has meanwhile been promoted to chairman of the division. All three report to Therese Esperdy, co-head of banking for the Asia-Pacific region.
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