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JPMorgan to name Linda Bammann, Michael Neal to the board

The JP Morgan Chase & Co. headquarters is pictured in New York May 14, 2012. REUTERS/Eduardo Munoz
The JP Morgan Chase & Co. headquarters is pictured in New York May 14, 2012. REUTERS/Eduardo Munoz

(Reuters) - JPMorgan Chase & Co 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, who is expected to be elected on September 16, will also join the board's risk policy committee, JPMorgan said in a statement. Neal is expected to join in January.

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

(Reporting by Aman Shah in Bangalore; Editing by Sreejiraj Eluvangal)

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