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-- the cult like you so much.
And continue to follow the breaking news from JPMorgan annual meeting and the vote is in chairman and CEO Jamie diamond keeping.
Voting rolls out of here -- in Tampa Florida now with latest data.
And it's pretty incredible you know JPMorgan Chase stock up 2% today yes he does keep the role but 32 point 2% of shareholders voted.
For the split that's down from 40% last year to interpret what this means -- this is a victory or a loss depending on how you look at it I wanna introduce you to Michael Garland -- is from the New York City comptroller's office representing the New York City pensioners.
And it essentially.
You were in favor of the split.
32 point 2% of the shareholders voted for that's down from last year how should we interpret that.
We expect to -- -- its luster given all the risk issues that came about that ultimately today's vote was a referendum.
The board's oversight of rest.
-- -- Some try to make it a referendum on -- -- leadership that's not what it was about it that ended up deflecting blows away.
Jamie -- but those votes did land against a set of directors on the -- Admit three of the directors actually this sport less than 60% of the vote.
-- that would be problematic that in regards mr.
Dimon and the board and oversight.
This -- been a problem at the bank and even the it was internal investigation in 20112012.
Regarding the London well problem but it didn't go back before 2012 is that a problem is that the kind of thing that people -- worried about it.
-- comptroller -- been pretty clear from the beginning it's about putting governance structure in place going forwards.
And it isn't just about the one -- -- since post one and we always had more of a window into risk.
-- precipitous loss of regulatory conference.
Did you mention that loss of regulatory -- and it's we had talked earlier about the Graham Fisher report as sixteen billion dollar since 2009 and fines penalties and legal settlements half of that is just finds out why is that problematic isn't that the cost of doing business for about.
I didn't know I think that -- Timorese activists have -- more regulatory sanctions than their peers so they have outperformed peers that's a testament to Jamie diamond finished the CEO.
But there are very clearly.
Cost the bank of dollars in revenue.
Ultimately it is about court oversight of -- -- that this is arrested undermined confidence and.
We haven't seen the board.
Take those issues on in terms of the composition of the board or its leaders.
Michael Garland thank you for joining us on Fox Business I get ready to throw back to his knowledge know that.
Coming up -- you can ever gonna hear from Mike -- -- and one of the questions people were talking about including mr.
What is the -- for succession going forward -- After Jamie Dimon is as someone who could be as strong is Jamie Dimon.
In the CEO position should there eventually be a split -- address those issues at 2 PM for shareholders at JPMorgan Chase perhaps you if you -- become -- --
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