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Has Chase's Dimon Grown Too Powerful?

Long seen as the unofficial king of Wall Street, Jamie Dimon's grasp on power is now under unprecedented assault from those who fear he's grown too dominant.The battle to strip Dimon of his chairman title highlights how far the CEO's stock has fallen since the days when he was seen as Washington's go-to banker, but also speaks to a broader movement aimed at enhancing corporate oversight by splitting the CEO and chairman titles.The debate pits those who are still miffed about J.P. Morgan Chase's (NYSE:JPM) London Whale trading debacle against supporters who credit Dimon with turning the bank into the largest and most stable in the  U.S."We know stronger accountability is needed. But if the pendulum swings too far, then you have a board that is at odds with its CEO. They're going to have to thread the needle here," said Thomas Saporito, CEO of RHR International.J.P. Morgan is now scrambling to persuade major shareholders to vote against a nonbinding proposal at the bank's May 21 annual m...

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