Shareholders at JPMorgan Chase voted to let Jamie Dimon, the Chairman and CEO, keep both his jobs. At the bank’s annual meeting, just 32% of shareholders voted for a non-binding measure that would have advised the bank to split the roles. That’s less than the 40% vote that a similar proposal received last year. Shareholder groups lobbying for the split gained momentum from a surprise $6 billion trading loss last year, which tarnished the reputation of the bank and Dimon. In the previous six annual meetings where Dimon has been both Chairman and CEO, shareholders have been asked about separating the roles four times. Last year marked the highest level of votes in favor of the idea. In 2007 and 2008, only about 15% of shareholders voted for similar measures. Investors welcomed the news that the measure had been defeated. But the bank is facing regulatory investigations and lawsuits over the trading loss and other practices including alleged rigging of power prices.
