Analysts:

CLSA analyst Mike Mayo – The meeting “was a step in the right direction.” Mayo attended as a proxy for an investor to get a better idea about the board’s ability to challenge management. “Today is a good day for investor driven capitalism,” he said after he quizzed Dimon and presiding director Lee Raymond. “The Board gets the message that the risk committee must change and Mr. Raymond sent a signal that this will happen.”

Wells Fargo –In a note headlined, “Reason trumps emotion — Shareholders affirm Jamie Dimon’s leadership,” Wells Fargo said it would expect shares to outperform given “investor relief that Mr. Dimon will remain at the helm of the firm.”

Sterne Agee – “Given Jamie Dimon’s successful stewardship of JPM, our view is that fewer disruptions to his role ultimately benefits JPM and its shareholders. … Overall, our view is that JPM is an organization with proven management talent that has routinely navigated difficult waters, with impressive success, notably the depths of the financial crisis. The organization has a long-established track record, proven business model and earnings power, as well as the proven ability of management to execute both in good times, as well as times of crisis. Although the prosperity has not been uninterrupted (such has the disclosed CIO losses in 2Q12), management’s stewardship of the company has been exemplary, particularly when compared to similarly situated peers.”

Shareholders:

Byron Snider, president and co-founder of investment advisory firm West Oak Capital LLC in Westlake Village, Calif., said he was relieved that the shareholder proposal to split chairman and CEO roles failed. The outcome “gives [J.P.Morgan] the flexibility to do what they believe is best for the company,” he said. “If the vote had gone the other way, Jamie Dimon may have viewed it as a sign of ‘no confidence’ and considered leaving the company. In our opinion, that could have been terribly disruptive and counterproductive.”

Bill Smead, CEO and CIO of Smead Capital Management, said he had worked for Dimon when Dimon was running brokerage Smith Barney and bought J.P. Morgan shares around $34.50 in the wake of the London Whale trading disclosures. Smead voted with management, even though he doesn’t always agree that a chairman and CEO should be the same person. “My father used to say the best government is a benevolent dictator,” Smead said. “You just don’t find really many good benevolent dictators running a company and [Dimon] is one of those.”

Kevin O’Keefe, an analyst with Brown Advisory, which holds about 1.5 million shares: “Most importantly, shareholders got the answer “right” in my opinion by supporting Dimon in maintaining his dual role…. In thinking about the higher support this year for management, perhaps the resumption of the vote and heightened media coverage caused investors to reconsider and thus fully appreciate Dimon’s leadership record.”

CtW Investment Group, which represents union pension funds, sent a statement urging three members of the bank’s risk policy committee–Ellen Futter, James Crown and David Cote–to resign immediately. The group said the bank’s board needed new directors capable of overseeing risk management at the bank. Futter garnered 53% of the vote, Cote got 59% and Crown got 57%. “A no vote north of 40% is a vote of no confidence,’’ said William Patterson, emeritus executive director of CtW.

Eric Cohen, chairperson of Investors Against Genocide, whose shareholder proposal garnered support from 8.1% of shares votes, issued a statement criticizing Dimon for comments at the meeting in response to questions from the group. “It is astounding that Mr. Dimon and Mr. Raymond are unaware of the widely-recognized view that PetroChina, as Sudan’s largest business partner, is clearly linked to the ongoing government-sponsored genocide in Sudan,” Cohen said.