“The “London Whale” trading debacle that J.P. Morgan Chase suffered in 2012 may lead more shareholders at this spring’s annual meeting to vote in favor of separating Mr. Dimon’s roles as chairman and chief executive at the bank. But even $6 billion or so in losses isn’t likely to be enough to unseat Mr. Dimon, who is credited with steering J.P. Morgan successfully through the financial crisis.
“Still, the argument for stripping even Mr. Dimon of one of his titles, and for similar change at other big banks like Goldman Sachs, is credible even absent the Whale.
“A group of pension funds on Wednesday said they had filed a shareholder proposal calling for J.P. Morgan to name an independent chairman. A similar proposal last year received a 40% favorable vote.”
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