JPMorgan to pay about $200 million to settle Asia hiring probes

JPMorgan Chase and Co is expected to pay about $200 million to settle criminal and civil probes over its Asian hiring practices, according to a person familiar with the matter. A settlement, which could come later this year, would end probes that began three years ago into whether JPMorgan investment banking executives in Hong Kong hired sons and daughters of officials of Chinese companies as a way to win business. The prospect of a settlement was reported on Thursday by the Wall Street Journal.