Activist shareholders of JPMorgan Chase (JPM) set out on a political campaign to weaken the authority of the mega-bank’s CEO Jamie Dimon, an article in The Wall Street Journal reported.
Dimon just resurfaced from last year’s “London Whale” trades, which cost the bank more than $6 billion, the article states.
According to the report, activists think the bank would be better off bringing in an independent chairman, splitting up Dimon’s dual role of CEO and chairman.
The activists include Sen. Carl Levin, D-Mich., and advisory firms like Institutional Shareholder Services.
