J.P. Morgan Hired Friends, Family of Leaders at Chinese Firms It Took Public

J.P Morgan also had a program called "Sons and Daughters" where they actively recruited sons and daughters of prominent senior Chinese officials to win business.

From 2013: http://dealbook.nytimes.com/2013/08/30/morning-agenda-jpmorg...

Much of the value in a bank is in the relationships. Pretty much every service a bank does, any bank can do. It's not that odd that they'd try to sweeten the deal with likely future power brokers.

Plenty of businesses do something similar with work experience programs. You let the kids of your business connections come and sit with you a bit, and they tell daddy what a great experience it was.

Sounds like https://en.m.wikipedia.org/wiki/Iron_law_of_oligarchy