Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
November 22, 2014

In Rare Action, Corporate PAC Refunds Executives’ Contributions

Dimon019 061312 445x295 In Rare Action, Corporate PAC Refunds Executives Contributions

Corporate political action committees usually do not want to give back any contributions from executives, but for JPMorgan Chase & Company, it could be part of CEO Jamie Dimon’s plan to reduce JPMorgan’s exposure to the risky business of buying and selling of companies.

In June, Dimon announced JPMorgan would spin-off its private equity investment unit, One Equity Partners, into a separate company. One Equity Partners manages about $4.5 billion of investments for JPMorgan Chase.

On Wednesday, the JPMorgan Chase & Co. PAC reported it had refunded $74,095 from contributions received in 2012 and 2013 from nineteen executives of One Equity Partners. These include $5,850 refunded to Robert Rubin; $8,112 to Richard Cashin; $8,112 to Colin Farmer; $8,112 to James Koven; $8,112 to William Wangerin; and $7,500 to Christian Ahrens; among others.

These refunds may be part of the effort to help draw a clear line between the two organizations.

One Equity Partners does not currently have a federal PAC.

Comments (0)

No comments just yet.

Sign In

Forgot password?

Or

Subscribe

Receive daily coverage of the people, politics and personality of Capitol Hill.

Subscription | Free Trial

Logging you in. One moment, please...