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Monday, Sep 9
JPMorgan appoints a couple of whale hunters to board
- Beefing up risk-management experience on its board following the London Whale losses, JPMorgan (JPM +0.6%) names two new directors - Linda Bammann and Michael Neal. Bammann is a long-time deputy of Jamie Dimon and was head of risk management at the bank until retiring in 2005. Previously, she was head of risk management at Bank One when it was headed by Dimon. She's joining the Risk Policy Committee on September 16.
- Neal is currently vice-chairman of GE and was previously chairman and CEO of GE Capital. He will join the board after retiring from GE in January 2014.
- Their spots on the board were paved with the retirement of David Cote and Ellen Futter - who squeezed past their reelections, but were criticized for a lack of risk management experience (or what experience they had wasn't great).
- Press release.