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.<p>From 2013: <a href="http://dealbook.nytimes.com/2013/08/30/morning-agenda-jpmorgans-sons-and-daughters-program/" rel="nofollow">http://dealbook.nytimes.com/2013/08/30/morning-agenda-jpmorg...</a>
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.<p>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 <a href="https://en.m.wikipedia.org/wiki/Iron_law_of_oligarchy" rel="nofollow">https://en.m.wikipedia.org/wiki/Iron_law_of_oligarchy</a>