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Thank you Nicole.
New York Times reporting that calpers will vote to split up.
Morgan JPMorgan Chase's CEO and chairman roles for Jamie Dimon and David George is a senior banking -- talented Robert W Barry joins us now on the phone.
Thanks for being what -- David on such short notice.
-- -- JPMorgan stock it's up 60%.
Or so of the past eleven months.
What is -- problem exactly.
No it's a good question you'd have to ask them benefit but the up from my perspective I think that many in kind of a proxy world it's it's considered it.
That the best practices.
For her for large US companies -- display it.
Bet chairman and and CEO role and I think that's steps that are obviously their vote with respect JPMorgan today.
Do you know of any research that ever shown that had a split role of chairman and CEO that that company out performances both in market returns -- profits because.
Most of what I've read over the years basically says there's almost no difference at all.
-- you know that's an excellent an -- question and that's something we have not necessarily run.
Numbers Don but in this in this situation.
We were of the view that he did -- should keep those -- This is an extremely complex company Dimon has an outstanding track -- and creating value for shareholders and has.
-- complex company just an incredibly good handle on what's going on in every business and I -- I don't I don't think -- splitting the roles really make sense.
As far as that the future direction of the company.
So it sounds like almost of a politically correct argument let's.
Bring that -- to heal and let's let's divide take away some duties from the -- patients Jamie Dimon and then -- the stock ends up heading down do you think this calpers proposal to split those two roles has any chance of passing at all.
-- -- question I I do think that there are going to be a number of votes.
From proxy firms and pension -- to split the roles I think that's ban.
The general voting pattern of these institutions over the last really since the financial crisis so I do think there will be a meaningful number of -- we don't.
-- we're not in the business of forecasting votes but I don't personally think that there's going to be enough votes to.
They can make that change and and furthermore the board decision and the board is going to.
Consider the vote but it's ultimately their decision.
But it is another chance to beat up on the banks of wag a finger at him Tom how bad they were in the meltdown.
Thanks for being with us today David George.
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