JPMorgan shareholders proposing independent chair, and consideration of break-up

Jamie Dimon

JPMorgan Chase shareholders are proposing the firm consider requiring an independent chairman, and they asked the bank to review whether divesting non-core businesses would improve returns.

Bloomberg News reports that the board could wait until after Jamie Dimon, who holds both the chairman and chief executive officer titles, leaves the company before implementing the plan, according to a list of shareholder proposals the New York-based bank disclosed Thursday in its proxy filing.

JPMorgan advised shareholders to vote against both proposals, as well as a clawback amendment that would defer compensation for 10 years to help satisfy any monetary penalty associated with violations of the law.

Hit the link below to access the complete Bloomberg News article:

JPMorgan Investors Seek Independent Chairman, Breakup Review

Deutsche Bank, Credit Suisse Chairmen Reject Criticism in Slump

 

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts