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Dimon’s Leaves N.Y. Fed Board of Directors; No Successor Named

Dimon’s Leaves N.Y. Fed Board of Directors; No Successor Named

JPMorgan Chase (JPM) Chief Executive Jamie Dimon has left the board of the Federal Reserve Bank of New York, more than six months after lawmakers called for his resignation because of JPMorgan’s multibillion-dollar trading scandal.

Dimon departed when his term expired Dec. 31, a New York Fed spokeswoman said. Its board members customarily step down after serving a maximum of two three-year terms, as Dimon did, she said.

The New York Fed’s nominating committee still has to recommend Dimon’s replacement, she said. No deadline has been set.

Dimon was one of three Class A directors, who are elected by member banks to represent their interests. The board’s other six directors represent the public.

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