JPMorgan Chase said on Monday that its board intended to elect two new directors.
Linda B. Bammann, who was deputy head of risk management at JPMorgan until her retirement in 2005, is expected to be elected to the board on Sept. 16, the bank said. She also served as a director of Freddie Mac after the federal government put it in conservatorship in 2008 until this past July. Ms. Bammann will also join the board’s risk policy committee.
Michael A. Neal, a vice chairman at General Electric, is expected to join the board in January after he retires from G.E. Mr. Neal was chairman and chief executive of GE Capital before retiring in June.
“Linda and Mike are proven leaders and will bring outstanding risk, finance and management experience to our board and to our firm,†Jamie Dimon, chairman and chief executive of JPMorgan, said in a statement.
The two fill vacancies created when David M. Cote and Ellen V. Futter resigned in July. The two directors were narrowly re-elected at the company’s annual meeting in May.
As members of the board’s risk committee, the former directors had faced criticism in the wake of a multibillion-dollar trading loss out of a bank unit in London last year. Some investors questioned whether Mr. Cote, the chairman and chief executive of Honeywell International, and Ms. Futter, the president of the American Museum of Natural History, had the right skills and experience to oversee the bank’s risk management.
