In the depths of the financial crisis, Jamie Dimon, the chief executive of JPMorgan, and his top lieutenants were hailed as 'The Survivors' on a Fortune magazine cover. Today, of the 15 executives featured in that article, only three remain - and one of them has been demoted.
The New York Times reports that the most recent high-level exit at the bank - that of the co-chief operating officer, Frank J. Bisignano, regarded within JPMorgan as something of an operational wizard - has heightened worries about the persistent executive turnover at the bank and raised fresh questions about who is ready to succeed Dimon one day.
For Jamie Dimon, who is 57, the latest departure comes at a precarious time, just weeks before the results are tallied on a shareholder vote on whether to split the roles of chairman and chief executive. Dimon currently holds both jobs. With voting now under way, the bank had hoped to keep a low profile, according to people briefed on the matter but not authorized to speak on the record.
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