JPMorgan’s Dimon defends Trump advisory role, deregulation
JPMorgan Chase & Co (N:JPM) Chief Executive Jamie Dimon on Tuesday responded to criticism from angry shareholders of his role advising President Donald Trump on economic matters, saying he would help “any president” in office.
At the bank’s annual meeting in Wilmington, Delaware, several attendees demanded answers from Dimon about his role on a White House business council and JPMorgan’s involvement with financial deregulation efforts in Washington.
“I would try to help any president of the United States, because I’m a patriot,” Dimon says. “That does not mean we agree with all the policies that an administration comes up with.”
Asked whether he would step down from Trump’s Strategic and Policy Forum, which includes over a dozen leaders of major corporations, Dimon said simply, “No.”
The actual business of the meeting was less controversial: voting shareholders sided with management on all major resolutions, including the election of directors and executive compensation. Activists’ proposals were rejected, though a proposal to allow investors with 10 percent of the total shares outstanding to call a special meeting received more than 42 percent support of shares voted, according to the bank’s preliminary tally.