The ruler of JP Morgan he will not be forced to abdicate. According to the New York Times, Jamie Dimon will retain the dual roles of president and chief executive officer. The American newspaper cites sources familiar with the preliminary result of the vote of the American Bank's shareholders. The announcement should come during the annual shareholders' meeting, which began at 10 local time (16 pm in Italy). The meeting takes place in Tampa, Florida.
In any case, the newspaper specifies that the shareholders will also be able to vote during the meeting and therefore the result could still change. In fact, the margin by which Dimon took home the victory is not clear. In his favor were record profits and a 19% rise in the stock market since the beginning of the year.
Three directors criticized by the shareholder Institutional Shareholder Service will also be confirmed. Ellen Futter, one of the three councillors, received the least support, between 50 and 60%. The shareholder vote is above all a test of confidence in Dimon's leadership skills, which is still affected by the scandal of the "London Whale", the trader that cost the bank over six billion dollars.
