Thursday, February 21, 2013

The King must die! Jamie Dimon defends dual leadership roles as shareholders call for him to give up title

The reigning king of Wall Street wears two crowns — and according to the NY Post he plans to keep it that way.  JPMorgan Chase CEO Jamie Dimon has no intention of relinquishing his chairmanship, insiders say, despite renewed calls from a group of shareholders to split the roles at the nation’s biggest lender.

The American Federation of State, County and Municipal Employees, a granddaddy of public employee unions, as well as New York City and Connecticut pension funds, are pressuring the bank in the wake of its $6 billion “London Whale” trading blunder.

The shareholders, which hold about $1 billion worth of bank shares, say the move would help to avoid a repeat of last year’s debacle, which led the board to slash Dimon’s pay in half…

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