Jamie Dimon, Chairman and Chief Government Officer of JPMorgan Chase & Co., speaks through the America Enterprise Discussion board at Kaseya Heart in Miami, Florida, U.S. Nov. 6, 2025.
Marco Bello | Reuters
JPMorgan stated its asset administration division has absolutely parted methods with controversial proxy advisors for shareholder votes.
In an inside memo, the agency stated it now not wants third-party knowledge assortment or voting suggestions. As a substitute, it launched a synthetic intelligence device, Proxy IQ, to mixture and analyze proxy knowledge from 3,000 annual firm conferences.
Proxy advisors reminiscent of Institutional Shareholder Companies and Glass Lewis sometimes present analysis and voting suggestions. JPMorgan stated it’s the first main funding agency to eradicate reliance on such corporations. The Wall Avenue Journal first reported the information earlier Wednesday.
Proxy advisors have been beneath fireplace from President Donald Trump, who signed an government order in December to reassess current guidelines. Trump stated the proxy advisors “usually use their substantial energy to advance and prioritize radical politically-motivated agendas.”
Tesla CEO Elon Musk additionally lashed out at proxy advisors final October, calling them “company terrorists,” after ISS really helpful shareholders reject his almost $1 trillion pay bundle.
