The Connecticut Retirement Plans and Trust Funds, a co-sponsor of the proposal to separate the roles of chairman and chief executive at JPMorgan Chase, plans to continue dialogue with the bank’s board despite not winning the vote at yesterday's shareholder meeting.

At the annual general meeting, the bank said 32% of votes had been cast in favour of stripping Jamie Dimon of the chairmanship, lower than the 40% vote the proposal received last year.