Calpers Votes in Favor of Splitting Dimon’s Dual JPMorgan Roles

May 20 (Bloomberg) -- The California Public Employees’ Retirement System voted in favor of splitting Jamie Dimon’s dual roles as chairman and chief executive officer ahead of JPMorgan Chase & Co.’s annual shareholder meeting tomorrow.

Calpers, which cast votes for 12.9 million of the New York-based bank’s shares, also withheld support for three members of the board’s risk committee: Ellen Futter, president of the American Museum of Natural History, Honeywell International Inc. CEO David Cote and James Crown, president of Henry Crown & Co. The pension fund cited “failures in risk oversight” during last year’s record trading loss as a reason for withholding the votes, according to results posted on its website.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

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