JPMorgan Top Director Says ‘Stay Tuned’ on Risk Panel Change

JPMorgan Chase & Co. (JPM)’s risk committee could undergo changes in its membership, said Lee R. Raymond, the bank’s lead director.

“In terms of the composition of the risk committee, you should stay tuned,” Raymond said today at the firm’s annual meeting in Tampa, Florida. He was responding to a question from Mike Mayo, an analyst at CLSA Ltd., on why the board didn’t overhaul the committee following last year’s risk-management failures in the chief investment office.

Shareholders are scheduled to vote on three members of the risk committee, including Ellen Futter, 63, David Cote, 60, and James Crown, 59. Futter, president of the American Museum of Natural History in New York, wasn’t able to attend the shareholder meeting, Chief Executive Officer Jamie Dimon said.

A majority of preliminary ballots supported the three risk-committee members, according to the New York Times. Among them, Futter received the least support, the newspaper said.

Futter didn’t immediately respond to phone and e-mail messages seeking comment.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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