TAMPA, Fla. (AP) — JPMorgan Chase CEO Jamie Dimon, facing shareholders five days after the bank disclosed a $2 billion trading loss, said Tuesday the company's mistakes were "self-inflicted."

Dimon, speaking at the company's annual meeting, also said the company supports better and smarter financial regulation.

Almost immediately, he faced a proposal to strip him of his chairman's title. Lisa Lindsley, director of capital strategies for an influential union of public employees, said independent board leadership was in shareholders' best interest.

"An all-powerful CEO is his own boss," she said. "Looking for an infallible CEO is a fool's errand."

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.