Jamie Dimon has finally lost one of his many titles at Chase Bank.
While the respected bank boss retains his president, chief executive and chairman’s titles at the JPMorgan Chase & Co. parent, he is no longer chairman of its Chase Bank unit, a regulatory filing Thursday revealed.
Dimon is now the bank unit’s chairman emeritus. Former Johnson & Johnson CEO William Weldon is the chairman.
Dimon shed the chairman’s title on July 1, according to the Wall Street Journal, citing a person familiar with the situation.
Some shareholders sought in May to force Dimon to give up one of his titles on the more powerful parent company board, but shareholders overwhelmingly voted to allow him to keep them all.
A JPMorgan spokesman told the WSJ, which was first to report the move, the governance change for one of the financial giant’s largest subsidiaries wasn’t the result of outside pressure.