Advisers Back JPMorgan Split of Top Roles

Two of the market’s most influential voting advisers have turned up the heat on JPMorgan, urging investors to back a proposal that would split the bank’s chair and chief executive roles.

ISS and Glass Lewis, whose recommendations guide major fund managers ahead of annual meetings, support a shareholder resolution that calls for two different people to hold the posts “as soon as possible.” The vote is scheduled for 19 May at JPMorgan’s annual general meeting, where investors will weigh whether the current structure gives too much authority to one office.

The fight centers on a simple governance question: should one person run America’s biggest bank and also lead the board meant to oversee that leadership?

The proposal lands squarely on Jamie Dimon, the billionaire executive who holds both titles at the bank. Supporters of the measure argue that separating the jobs would strengthen oversight and reduce the risk that too much influence sits with a single leader. Reports indicate those concerns have gained traction among governance-focused investors, especially when proxy advisers line up behind a resolution.

The push does not guarantee victory. Proxy adviser backing often shapes the conversation, but shareholders still make their own calls, and boards frequently resist efforts to rewrite leadership structures. Even so, the recommendation raises the stakes for JPMorgan by turning a governance concern into a direct test of investor confidence in how the bank concentrates power at the top.

What happens next matters beyond one annual meeting. If investors show meaningful support, even without forcing an immediate change, pressure could build on large companies to rethink combined chair-and-chief-executive arrangements. For JPMorgan, the vote will signal whether shareholders still accept the current balance of power or want a stronger line between management and oversight.