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Dimon and Buffett convene secret meetings on promoting long-termism

Feb. 02, 2016 9:40 AM ETBy: Stephen Alpher, SA News Editor4 Comments
  • Among the attendees are top guys from BlackRock, Fidelity, Vanguard, and Capital Group. Among the subjects: Improving corporate governance and encouraging long-term thinking.
  • The meetings come at a time of increasing shareholder activism (Dimon himself has been a target) which typically calls for expense cuts and share buybacks. Folks like Michael Dell - who recently took his company private - argue stock markets are too focused on short-term gains.
  • According to the FT, the powerful group just met at JPMorgan's NYC offices, and first met this past August (in Southampton?).
  • Aside from this leak, the group may put a statement of best practice on corporate governance which would offer suggestions on director roles, executive compensation, board tenure, and shareholder rights. Any formal deliverable is still months away, according to the FT's sources.

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