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Dimon Gives Up Chairman Role at Chase Bank

JPMorgan Chase & Co (NYSE:JPM)chairman and CEO Jamie Dimon has given up the title of chairman of the company's main bank subsidiary to conform with a new internal policy on multiple roles.Dimon has been under regulator scrutiny since the company last year disclosed it was losing billions of dollars on derivatives in what has become known as the "London Whale" trades. At this year's annual meeting, he won a vote of confidence called, in part, because of a breakdown in risk controls.Dimon turned over the title of chairman of the deposit-taking unit, JPMorgan Chase Bank, N.A., to a fellow director of the holding company, William Weldon, on July 1, a JPMorgan Chase & Co spokesman said.Dimon is now chairman emeritus of the subsidiary, according to a document released on Thursday, which is the public portion of the company's so-called "living will" filed with the Federal Deposit Insurance Corporation and Federal Reserve. Living wills of bank holding companies describe how the companies could...

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  1. Dimon Played Role Over Who Serves on JPMorgan Board

    For years, JPMorgan Chase & Co Chairman and CEO Jamie Dimon and other executives have hand-picked new directors, in a practice that is now unusual for a major U.S. b...

  2. J.P. Morgan Investors Examine Links With Directors

    Shareholders are taking a close look at financial relationships between some J.P. Morgan Chase & Co. (JPM) board members and the company they oversee, in a sign of t...

  3. Dimon might leave JPMorgan if stripped of chairmanship: WSJ

    JPMorgan Chase & Co Chairman and CEO Jamie Dimon said he may consider leaving the bank where he has held the top post since 2005, if shareholders vote to split his d...

  4. J.P. Morgan Director Defends Against Chairman-CEO Split

    The lead director of J.P. Morgan Chase & Co.'s (JPM) board on Friday fired back against critics who are looking to unseat board members and split the roles of chairm...

  5. Top Chase Directors Back Dimon as CEO, Chair

    Pushing back against a growing effort to curb Jamie Dimon's power, J.P. Morgan Chase's (NYSE:JPM) lead director warned shareholders on Friday that a vote to separate...

  6. JPMorgan board unanimously backs Dimon as chairman, CEO: letter

    Two ranking JPMorgan Chase & Co directors issued a letter to shareholders on Friday arguing against recommendations by proxy advisory firms to split the duties of Ch...

  7. CVS Names Former J&J CEO Weldon to Board

    CVS Caremark Corp.'s (CVS) board has elected former Johnson & Johnson (JNJ) Chairman and Chief Executive William C. Weldon as a new member.Mr. Weldon retired from th...

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