May 6 JPMorgan Chase & Co has yet to
convince three of its largest shareholders to support the
company in an upcoming vote on whether Jamie Dimon should retain
both his CEO and Chairman titles, the Wall Street Journal said.
Some investors are pushing for a separation in Dimon's roles
and seeking more oversight due to the "London Whale" trading
losses. Votes on the non-binding recommendation will be tallied
on May 21.
The investors, BlackRock Inc, Vanguard Group Inc and
Fidelity Investments - which together control 12 percent of the
shares - are still on the fence, the Journal said quoting people
close to the firms. ()
Two of the bank's top 10 shareholders have told Reuters that
they will consider voting in favor of the proposal.
JPMorgan's $6.2 billion loss stemmed from bets by
London-based Chief Investment Office trader Bruno Iksil on an
index for credit default swaps. His outsized positions earned
him the nickname "London Whale" from hedge fund traders taking
the other sides of his positions.
The three investors and JPMorgan were not immediately for
comment outside U.S. business hours. The bank's board has said
it opposes the shareholder proposal and that the company's
handling of the trading loss shows its current governance works.