Shareholders urged to break up JPMorgan, Citigroup

New York

AN advocate for stricter Wall Street regulations is asking shareholders of JPMorgan Chase and Citigroup to vote to consider breaking up the banks.

The proposal, by Bartlett Naylor, the financial policy advocate at the activist organisation Public Citizen, is expected to appear in the annual proxy filings of both banks and will then be put up for a vote among all investors who own shares in the banks.