The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

CEO and chairman Jamie Dimon testifies before the Senate Banking Committee in Washington about how JPMorgan Chase lost more than $2-billion on risky trades.
CEO and chairman Jamie Dimon testifies before the Senate Banking Committee in Washington about how JPMorgan Chase lost more than $2-billion on risky trades.
(J. Scott Applewhite/AP)

Streetwise

The appeal – and folly – of demoting Jamie Dimon

JPMorgan Chase & Co. shareholders who are wondering whether to take the chairman title away from Jamie Dimon need to ask themselves if they want to make money or make a point.

From Canada, where the country’s banks split the roles of board chair and chief executive officer years ago, it is strange to watch Mr. Dimon fight to keep both jobs against what seems an inexorable shift in corporate governance norms. Mr. Dimon, who has held both roles since 2006, has gone so far as to threaten to quit if he is stripped of the chairman job.