JPMorgan Chase's board has announced its intention to elect Linda B. Bammann and Michael A. Neal to join as directors.
Bammann has extensive experience in senior management roles, having served as chief risk management officer at Bank One Corporation and as deputy head of risk management at JPMorgan before retiring in 2005. She also worked as a director of Freddie Mac from late 2008 (after it entered conservatorship) until July 2013, serving as chair of the board's Business and Risk Committee. She is expected to be elected September 16.
Neal, currently a VP of General Electric (GE), served as chairman and CEO of GE Capital until June 2013. He began his career at GE in 1979, moving to GE Capital eight years later. In his 26 years there, he has held a number of senior operating positions, including president and COO of GE Capital and CEO of GE Commercial Finance. He plans to retire at the end of this year and is expected to join JPMorgan's board in early 2014.
"Linda and Mike are proven leaders and will bring outstanding risk, finance and management experience to our Board and to our firm," said Jamie Dimon, chairman and CEO at JPMorgan.