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JPMorgan to name Linda Bammann, Michael Neal to board

JPMorgan
Adam Jeffery | CNBC

JPMorgan Chase said it expects Linda Bammann, former director of Federal Home Loan Mortgage Corp, and Michael Neal, former GE Capital CEO, to join its board of directors.

The largest U.S. bank, which has been under heightened regulatory scrutiny, also said it would create a new lead independent director position. Lee Raymond, formerly presiding director, will be appointed to the position.

Bammann is expected to be elected to the board on Sept. 16. Neal will join the board in January, when he will retire from his current position as vice chairman at General Electric.

Reuters had reported last month that the bank was close to naming two new directors.

Bammann previously served as chief risk management officer at Bank One from 2001 until its acquisition by JPMorgan, and as deputy head of risk management at JPMorgan before her retirement in 2005.

(Click here for JPMorgan's stock action in pre-market trading.)

CNBC contributed to this report.

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