Two major proxy advisory firms have recommended that JP Morgan Chase shareholders vote to separate the roles of chief executive and chairman at the nation's largest bank by assets.

ISS and Glass Lewis, which provide voting guidance to institutional investors managing trillions in assets, endorsed a shareholder resolution calling for the bank to split the positions "as soon as possible." The proposal targets Jamie Dimon, who currently serves in both capacities at the financial institution.

The resolution will come to a vote at JP Morgan's annual shareholder meeting scheduled for May 19. The advisory firms cited concerns about the concentration of power in a single executive position as justification for their recommendation.

Proxy advisory firms typically evaluate corporate governance proposals and issue recommendations to pension funds, mutual funds, and other institutional investors on how to vote their shares. Their guidance often carries significant weight in determining the outcome of shareholder resolutions.

Dimon has led JP Morgan as CEO since 2005 and added the chairman title in 2006. The bank has consistently opposed previous attempts to separate the roles, arguing that the current structure provides effective leadership and accountability to shareholders.