Goldman Sachs ( GS) is holding its annual board meeting in India, in a sign of its growing commitment to the country and the region. Even though CEO Lloyd Blankfein and other executives are half a world away, they might not be able to escape the scrutiny they have received in recent weeks. On Wednesday, the company reached a deal with a leading union pension fund to appoint a "lead" director, temporarily staving off calls to remove Lloyd Blankfein from the post of Chairman and replace him with an independent director. Blankfein holds both the CEO and Chairman positions at Goldman Sachs. Previous calls to separate those roles to reduce potential conflicts of interest have been shot down by shareholders. Goldman's reputation has come under attack in recent weeks, following the public resignation of a former employee who accused the firm of putting money before clients' interests. That has once again raised the pressure on the investment bank to address its corporate governance practices. Shareholders will vote in the firm's annual meeting in May on a proposal to replace Blankfein as independent chairman. According to the reports, management has held discussions about reducing the role of Blankfein to Chairman and promoting COO Gary Cohn to the chief executive position if the union's proposal is passed.
JPMorgan Chase CEO Jamie Dimon continues to feel optimistic about the economy. In an interview with CNBC, Dimon said the U.S. no longer faced the risk of a double-dip recession.