Top Three Investors in JP Morgan on the Fence
Three of the largest shareholders in JP Morgan Chase and Co are still to be convinced on whether to vote for the retention of both CEO and Chairmanship titles for Jamie Dimon. This matter was reported in the Wall Street Journal.
A number of investors are planning to vote for the separation of the roles currently held by Dimon as well as provide more oversight because of the trading losses occurred in the 'London Whale' incident. The votes for the non-binding recommendation would be tallied by May 21.
The three top investors are BlackRock Inc, Vanguard Group Inc and Fidelity Investments and collectively they control 12% of the shares. They all sit on the fence according to sources close to the three firms that were quoted by the newspaper.
Two of the bank's top shareholders have intimated to Reuters that they would consider voting for the proposal.
The three investors as well as JP Morgan were not immediately available for comment beyond US business hours.