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Exclusive: Conservative investor pulls JPMorgan resolution, cites changes addressing ‘politicized finance’
By Jerry
May 21 (Reuters) – A conservative shareholder has withdrawn a resolution filed for a vote at Tuesday’s annual meeting of JPMorgan, according to the investor’s representative, who said the move reflects changes the Wall Street bank has made to take more account of diverse viewpoints.
JPMorgan’s (JPM.N), opens new tab meeting was to include Proposal 11, a call for the bank to report on how the bank’s policies impact employees “based on their religion (including religious views) or political views.”
Jerry Bowyer, a fund consultant who represents David Bahnsen, the head of the family trust that filed the resolution, said it was withdrawn in light of several steps the bank has taken that show it pulling back from political tests for customers.
One factor, Bowyer said, was the bank’s decision to drop a requirement that merchants using its WePay service not accept payments tied to risks like allegations of racism or sexual harassment.
Source: REUTER
