J.P. Morgan chief Dimon survives protest vote

JPMorgan Chase head Jamie Dimon survived a protest vote at the firm's annual shareholder meeting yesterday, which may have stripped him of his role as chairman.

Shareholders endorsed his dual role as chairman and CEO, although 32.3% of votes were in favour of appointing an independent chair. The lobby to remove Dimon in the weeks running up to the meeting, which was supported by shareholder advisory firms Glass Lewis and Institutional Shareholder Services, was ignited by investors dissatisfied by the London Whale trades last year.  The effects of the trades cost the investment bank £4bn, as well as crushing investor confidence. However, despite Dimon's escape, the firm still suffered hits to senior management, with three of its directors v...