NEW YORK ( TheStreet) -- JPMorgan Chase (JPM - Get Report) Chairman and CEO Jamie Dimon has given up his title of chairman of the company's main banking subsidiary, according to a filing with regulators made public on Thursday.
Dimon is listed as chairman emeritus of JPMorgan Chase Bank N.A. in the public portion of the
According to a
Under the new policy, the holding company's chairman also should not serve as chairman of the subsidiary.Dimon relinquished his title to board member William Weldon on July 1, according to the report, which citing a bank spokesperson. Dimon's dual role as chairman and CEO of the bank came under scrutiny earlier this year, with shareholder activists demanding that the bank appoint an independent chairman to its board. Still, shareholders voted in favor of Dimon keeping both his roles. Since then the bank has taken steps to boost its corporate governance, including
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