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JPMorgan Director Bammann Has About $5 Million in Stock

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Sept. 24 (Bloomberg) -- Linda Bammann, a former JPMorgan Chase & Co. executive who joined the company’s board last week, has almost $5 million of the bank’s shares, according to a regulatory filing today.

Bammann, 57, owns 98,486 JPMorgan shares, according to a securities filing today. The stake is worth $4.96 million at today’s closing price of $50.32 in New York.

JPMorgan, the biggest U.S. bank by assets, elected Bammann to the board effective Sept. 16. She was chief risk management officer at Bank One Corp. from 2001 until the lender, then run by Chief Executive Officer Jamie Dimon, was sold to JPMorgan in 2004. Bammann became deputy head of risk management at New York-based JPMorgan, where Dimon is now chairman and CEO, until her retirement in 2005.

Bammann also has call options on 32,500 shares with strike prices between $47 and $50 per share, according to the filing. Options on an additional 15,000 shares with a strike price of $55 expired unexercised on Sept. 21, the filing shows.

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

To contact the editors responsible for this story: Christine Harper at charper@bloomberg.net; David Scheer at dscheer@bloomberg.net

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