In a statement on Monday, JPMorgan Chase said it board would be electing two people as directors.

Linda Bammann would be elected to the Board as new director on September 16. She will also join JPMorgan Chase's risk policy committee of the Board. Bamman was the bank's deputy head of risk management until she retired in 2005. Her previous work experience included a stint in Freddie Mac as a director after the US government put it under conservatorship in 2008. She stayed with Freddie Mac until past July.

Michael Neal would also be expected to join the bank's Board after his retirement from General Electric (GE). He was a GE vice chairman until his retirement in June. Neal also held positions in GE Capital prior to his retirement as chairman and chief executive.

JPMorgan chairman and chief executive Jamie Dimon said in a statement, "Linda and Mike are proven leaders and will bring outstanding risk, finance and management experience to our board and to our firm."

Both Bammann and Neal would be filling the seats left vacant by David Cote and Ellen Futter, who both resigned in July in the height of the "London Whale" derivatives suit scandal.