GOVERNANCE

Board Committees

The Audit Committee assists the Board in its oversight of management’s responsibilities to assure that there is an effective system of controls reasonably designed to safeguard the assets and income of the Firm, assure the integrity of the Firm’s financial statements and maintain compliance with the Firm’s ethical standards, policies, plans and procedures, and with laws and regulations. In addition, the Audit Committee assists the Board in its oversight of the Firm’s independent registered public accounting firm and the Firm’s Internal Audit function.

Committee Charter







Committee Members

James A. Bell (Chair)

James A. Bell was an Executive Vice President of The Boeing Company, an aerospace company and manufacturer of commercial jetliners and military aircraft, from 2003 until his retirement in 2012.

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Timothy P. Flynn

Timothy P. Flynn was Chairman of KPMG International, a global professional services organization providing audit, tax and advisory services, from 2007 until his retirement in 2011.

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Laban P. Jackson, Jr.

Laban P. Jackson, Jr. has been Chairman and Chief Executive Officer of Clear Creek Properties, Inc., a real estate development company, since 1989. He has been a director of J.P. Morgan Securities PLC since 2010

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The Compensation & Management Development Committee reviews and approves the corporation’s compensation and benefit programs; ensures the competitiveness of these programs; provides oversight of the Firm’s compensation principles and practices and review of the relationship among risk, risk management and compensation in light of the Firm's objectives; and advises the Board on the development of and succession for key executives.

Committee Charter








Committee Members

Lee R. Raymond (Chair)

Lee R. Raymond was Chairman of the Board and Chief Executive Officer of ExxonMobil, the world’s largest publicly traded international oil and gas company, from 1999 until he retired in 2005. 

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Stephen B. Burke

Stephen B. Burke has been Chief Executive Officer of NBCUniversal, LLC, and a senior executive of Comcast Corporation, one of the U.S.’s leading providers of entertainment, information and communication products and services, since 2011.

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Todd A. Combs

Todd A. Combs is an investment officer at Berkshire Hathaway Inc., a holding company whose subsidiaries engage in a number of diverse business activities including finance, insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services.

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The Corporate Governance & Nominating Committee exercises general oversight with respect to the governance of the Board of Directors.

                                                                                                                                         

Committee Charter







Committee Members

Stephen B. Burke (Chair)

Stephen B. Burke has been Chief Executive Officer of NBCUniversal, LLC, and a senior executive of Comcast Corporation, one of the U.S.’s leading providers of entertainment, information and communication products and services, since 2011.

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Todd A. Combs

Todd A. Combs is an investment officer at Berkshire Hathaway Inc., a holding company whose subsidiaries engage in a number of diverse business activities including finance, insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services.

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Lee R. Raymond

Lee R. Raymond was Chairman of the Board and Chief Executive Officer of ExxonMobil, the world’s largest publicly traded international oil and gas company, from 1999 until he retired in 2005. 

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The Public Responsibility Committee provides oversight and review of the Firm’s positions and practices on public responsibility matters such as community investment, fair lending, sustainability, consumer practices and other public policy issues that reflect the Firm’s values and character and impact the Firm’s reputation among all of its stakeholders.

Committee Charter







Committee Members

Timothy P. Flynn (Chair)

Timothy P. Flynn was Chairman of KPMG International, a global professional services organization providing audit, tax and advisory services, from 2007 until his retirement in 2011.

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Todd A. Combs

Todd A. Combs is an investment officer at Berkshire Hathaway Inc., a holding company whose subsidiaries engage in a number of diverse business activities including finance, insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services.

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Mellody Hobson

Mellody Hobson has been the Co-CEO of Ariel Investments, LLC, an investment management firm, since 2019 and served as its President from 2000 to 2019.

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The Risk Committee assists the Board in its oversight of management’s responsibility to implement an effective global risk management framework reasonably designed to identify, assess and manage the Firm’s strategic, credit and investment, market, and operational risks. The Risk Committee’s responsibilities include approval of applicable primary risk policies and review of certain associated frameworks, analysis and reporting established by management.

Committee Charter








Committee Members

Linda B. Bammann (Chair)

Linda B. Bammann was Deputy Head of Risk Management at JPMorgan Chase from 2004 until her retirement in 2005.

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James S. Crown

James S. Crown joined Henry Crown and Company, a privately owned investment company that invests in public and private securities, real estate and operating companies, in 1985.

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Mellody Hobson

Mellody Hobson has been the Co-CEO of Ariel Investments, LLC, an investment management firm, since 2019 and served as its President from 2000 to 2019.

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Michael A. Neal

Michael A. Neal was Vice Chairman of General Electric Company, a global industrial and financial services company, until his retirement in 2013 and was Chairman and Chief Executive Officer of GE Capital from 2007 until 2013.

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Other Board Committees

In addition to the principal standing committees, the Board has a Stock Committee and a Board-level Executive Committee.

The Stock Committee The Executive Committee
The Stock Committee consists of Jamie Dimon. The committee is responsible for implementing the declaration of dividends, authorizing the issuance of stock, administering the dividend reinvestment plan and implementing share repurchase plans. The committee acts within Board-approved limitations and capital plans. The committee consists of the Chairman/CEO and the chairs of the Board's five principal standing committees. It may exercise all the powers of the Board that lawfully may be delegated but with the expectation that it would not take material actions absent special circumstances.

 

Specific Purpose Committees

The Board may establish committees for specific purposes (“Specific Purpose Committees”). The Board currently has four such committees:

  • BSA/AML (Bank Secrecy Act/Anti-Money Laundering) Compliance Committee
  • FX (Foreign Exchange)/Markets Orders Compliance Committee
  • Omnibus Committee
  • Trading Compliance Committee

Specific Purpose Committees may provide oversight of specific aspects of our control agenda or serve any other purpose as the Board may determine.

Effective July 2019