Tuesday, May 21, 2013

A Jamie showdown at the JPM corral today

From tne New York Post: Think of it as the tempest in Tampa.  JPMorgan boss Jamie Dimon is bracing for a shareholder brouhaha today in the Sunshine State that could set the tone for the future of the Wall Street firm. Dimon is in an epic struggle at the bank’s annual shareholder meeting to retain his dual roles as chairman and CEO.

It’s likely that the bank honcho will secure enough votes to keep his titles, but the backlash will certainly leave a scar.

“Regardless of the vote tally, it may be untenable for the [JPMorgan] board of directors not to take concrete actions to address the underlying concerns investors have about the firm,” said Mike Garland, assistant comptroller at the New York City Office of the Comptroller, which backs the split…

No comments:

Post a Comment