JPMorgan urged shareholders on Thursday to vote against appointing a committee to explore a break up of the bank, reiterating that splitting its businesses would not be in investors' best interests.
Reuters reports that according to a regulatory filing, a shareholder, Bartlett Naylor, plans to propose at JPMorgan's annual general meeting on May 17 that the bank consider splitting into two or more companies.
Naylor's resolution recommends that one company perform basic business and consumer lending, while the other units focus on investment banking operations.
Naylor, who works for the non-profit Public Citizen, has filed nearly identical resolutions at Bank of America, and Citigroup in recent years.
To access the complete Reuters article hit the link below: