Linda Bammann
JPMORGAN CHASE &About Linda Bammann
Linda B. Bammann is an independent director of JPMorgan Chase & Co., serving since 2013 and currently age 69. She is Chair of the Board’s Risk Committee and a member of the Compensation & Management Development Committee (CMDC). A retired risk management executive, her career includes Deputy Head of Risk Management at JPMorgan Chase following the Bank One merger; she holds a Stanford undergraduate degree and an M.A. in Public Policy from the University of Michigan. The Board determined she is independent under NYSE and firm standards; in 2024 each director attended at least 75% of Board and committee meetings.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JPMorgan Chase & Co. | Deputy Head of Risk Management | 2004–2005 | Senior risk oversight in global finance; regulatory engagement |
| Bank One Corporation | Chief Risk Management Officer and EVP | 2001–2004 | Led enterprise risk; capital markets risk frameworks |
| Bank One Capital Markets | Senior Managing Director | 2000–2001 | Managed capital markets activities and risk disciplines |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Risk Management Association | Former Board Member | Not disclosed | Professional risk standards body |
| Loan Syndications and Trading Association (LSTA) | Former Chair | Not disclosed | Market practices and controls |
| Travis Mills Foundation | Board Member | Not disclosed | Non-profit governance |
| The Brydon Group | Senior Advisor | Not disclosed | Private investing advisory |
| Other U.S.-listed public company directorships (past 5 years) | None | — | No current external public boards |
Board Governance
- Committee assignments: Risk Committee Chair; Compensation & Management Development Committee member.
- Independence: Board determined Ms. Bammann is independent under NYSE and firm standards; Audit and CMDC members meet additional NYSE criteria.
- Attendance: In 2024, each director attended ≥75% of total Board and committee meetings.
- Executive sessions: 8 executive sessions of independent directors were held in 2024.
| Committee | 2024 Meetings | Linda Bammann Membership | Chair Role |
|---|---|---|---|
| Risk | 8 | Member | Chair |
| Compensation & Management Development (CMDC) | 6 | Member | No |
| Audit | 15 | No | — |
| Corporate Governance & Nominating | 8 | No | — |
| Public Responsibility | 4 | No | — |
- Expertise designation: The Board states Ms. Bammann, as Risk Committee Chair, has experience identifying, assessing and managing risk exposures of large, complex financial firms per Federal Reserve rules.
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Fees earned or paid in cash | 160,000 | Board/committee retainers as applicable |
| Stock award (DSUs) | 265,000 | Annual grant of deferred stock units (DSUs) on Jan 16, 2024; grant date FMV $166.1950/share |
| Other fees earned or paid in cash | 20,000 | Specific purpose committee meeting fees, bank board-related fees as applicable |
| Total | 445,000 | All director equity awards are vested |
- Anti-hedging/anti-pledging: Directors may not hedge or pledge personally held shares; must retain shares acquired through service while on the Board.
- Structure/Praxis: Robust clawback, sound pay practices, and strong shareholding requirements are embedded in firm policies overseen by CMDC.
Performance Compensation
| Item | Disclosure |
|---|---|
| Equity award type | Deferred stock units (DSUs); annual grant to non-employee directors |
| Performance conditions/metrics | None disclosed for director DSU grants; awards are vested (time-based retainer equity) |
| Clawback/Recovery | Firm has strong clawback provisions across compensation programs; CMDC oversees design and terms including recovery provisions |
Other Directorships & Interlocks
- CMDC interlocks: No CMDC member is or was a JPMorgan officer/employee, other than Linda B. Bammann, who previously served as a JPMorgan officer 15 years before joining CMDC and 8 years before joining the Board; ordinary-course customer transactions for CMDC members/families occurred on market terms.
- Current public company boards: None for Ms. Bammann in past five years.
Expertise & Qualifications
- Risk management and controls: Retired risk management executive; deep experience assessing/managing financial risk; broad financial services experience including capital markets and consumer finance.
- Regulated industries: Significant experience navigating regulatory landscape and engaging with regulators.
- Human capital: Insight on succession planning and senior executive development.
- Education: Stanford University (undergraduate); M.A., Public Policy, University of Michigan.
Equity Ownership
| Name | Common Stock (#) | SARs/Options Exercisable within 60 days (#) | Total Beneficial Ownership (#) | Additional Underlying Stock Units (#) | Total (#) |
|---|---|---|---|---|---|
| Linda B. Bammann | 65,986 | — | 65,986 | 35,318 | 101,304 |
- Hedging/pledging: Directors may not hedge or pledge shares held personally; must retain shares acquired via Board service while serving.
- Ownership guideline: The firm maintains stock ownership requirements for directors and robust anti-hedging/anti-pledging policies.
Governance Assessment
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Strengths
- Long-tenured, genuinely independent director with risk management specialization; chairs the Risk Committee and serves on CMDC, aligning oversight with core bank risk and pay governance.
- Strong attendance and active committee structure (Risk 8 meetings; CMDC 6), supporting board effectiveness and risk/pay oversight.
- Clear anti-hedging/anti-pledging and vested DSU retainer structure; reasonable total director compensation and transparent disclosure.
-
Potential Red Flags / Watch Items
- Historical employment at JPM (officer) noted in CMDC interlocks; Board affirms independence, but investors may monitor for perceived conflicts in pay decisions.
- Limited external public board roles reduce interlocks but also external market exposure; nonetheless, risk expertise is directly relevant to JPM’s profile.
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Engagement signals
- Board conducted 8 executive sessions and broad stakeholder engagement; directors participate as appropriate, with CMDC formally reporting on compensation governance.