JPMorgan Says 33% Vote for Study on Splitting CEO-Chairman Roles

JPMorgan Chase & Co. investors followed management’s recommendations on shareholder proposals, rejecting attempts to consider an independent chairman and a breakup of the biggest U.S. bank by assets. Based on a preliminary count, 33 percent of shareholders voted in favor of a proposal to split the roles of chairman and chief executive officer, the company said Tuesday at its annual meeting in New Orleans. A proposal to study whether the New York-based company should sell off its non-banking assets was rejected, with just 2.9 percent supporting the measure.