March 22 The board of directors of JPMorgan
Chase & Co said on Friday it "strongly endorses" keeping
Jamie Dimon as both their chairman and as chief executive of the
The comment, contained in the opening pages of the company's
proxy filing ahead of its annual meeting on May 21, is a more
vigorous affirmation of the same view the panel took last year
when it opposed an unsuccessful shareholder proposal to split
The remark comes even after the board said in January that
it had cut Dimon's annual compensation in half for 2012 to $11.5
million after the company lost $6.2 billion on derivatives in
the so-called "London Whale" trades.
The board said the "strength and independence" of its
oversight had been demonstrated by actions the company took
after the trading debacle.
The company has since overhauled its risk controls and
replaced some of its top executives.
Dimon's total compensation, as presented according to the
U.S. Securities and Exchange Commission format, was $18.7
million in 2012, down from $23.1 million in 2011. Company and
SEC pay counts can differ with the timing of incentive