Calls grow for Dimon to ditch one of his roles at JP Morgan
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 07 May 2013
A second shareholder advisory firm has said that investors in JP Morgan should vote for a non-binding proposal to split Jamie Dimon's responsibilities and appoint an independent chairman.
Glass, Lewis & Co weighed in ahead of the bank's annual meeting on 21 May. ISS Proxy Advisor Services issued a similar report last week, seeking backing for the proposal to strip Mr Dimon, who is both chairman and chief executive of the American bank, of one of his jobs.
The calls follow the giant $6bn-plus London Whale trading loss that led to public and regulatory scrutiny of the firm. Glass, Lewis said shareholders should endorse the non-binding proposal. It also recommended that investors opt against re-election six of the 11 directors on the bank's board.
- 2 Russian girl takes her own life after parents find pornography on her computer
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Russian girl takes her own life after parents find pornography on her computer
Kim Kardashian on Bruce Jenner's 'story': 'We support him no matter what, and I think when the time is right, he'll talk'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...