JPMorgan Insiders Believe Jamie Dimon Will Retain Dual Title [REPORT]

FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports that insiders at JPMorgan Chase & Co. (NYSE:JPM) believe that shareholders will vote against splitting the roles of Jamie Dimon as chairman and CEO at the bank’s annual meeting on May 21st.

Gasparino reports that JPMorgan insiders “feel it’s going to be close” but that they believe JPMorgan Chase & Co. (NYSE:JPM) Chairman and CEO Jamie Dimon will retain both roles. Gasparino also discussed the possibility of Dimon leaving the bank if the roles are split and said, “He won’t leave them in the lurch. What you’re likely to see within some period of time is Jamie Dimon announce when he’s going to leave the bank at some future date, that he will groom a successor and that he will limit his time.”

Excerpts from the report are below.

On whether JPMorgan Chase & Co. (NYSE:JPM) shareholders will vote against splitting the roles of chairman and CEO:

“Inside JPMorgan they believe they’re going to win this vote…they feel it’s going to be close but that [JPMorgan Chase Chairman and CEO] Dimon will retain both roles. They basically say major shareholders have not made up their mind just yet officially. BlackRock, Inc. (NYSE:BLK), Fidelity, T. Rowe Price Group, Inc. (NASDAQ:TROW), those are the major shareholders, they will make up their mind on Friday or Monday but based on what they’re hearing they will likely win their vote. They voted for keeping the role together last time last year, they’re likely – 40%- to do it this year.”

On the possibility that Dimon might leave JPMorgan Chase & Co. (JPM):

“Friends of Dimon’s tell me he is really serious when he says he might leave but here’s how he will do it. He won’t leave them in the lurch. What you’re likely to see within some period of time is Jamie Dimon announce when he’s going to leave the bank at some future date, that he will groom a successor and that he will limit his time.”