Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., speaks during the America Business Forum astatine Kaseya Center successful Miami, Florida, U.S. Nov. 6, 2025.
Marco Bello | Reuters
JPMorgan said its plus absorption part has afloat parted ways with arguable proxy advisors for shareholder votes.
In an interior memo, the steadfast said it nary longer needs third-party information postulation oregon voting recommendations. Instead, it launched an artificial quality tool, Proxy IQ, to aggregate and analyse proxy information from 3,000 yearly institution meetings.
Proxy advisors specified arsenic Institutional Shareholder Services and Glass Lewis typically supply probe and voting recommendations. JPMorgan said it is the archetypal large concern steadfast to destruct reliance connected specified companies. The Wall Street Journal archetypal reported the quality earlier Wednesday.
Proxy advisors person been nether occurrence from President Donald Trump, who signed an executive order successful December to reassess existing rules. Trump said the proxy advisors "regularly usage their important powerfulness to beforehand and prioritize extremist politically-motivated agendas."
Tesla CEO Elon Musk besides lashed retired astatine proxy advisors past October, calling them "corporate terrorists, aft ISS recommended shareholders cull his astir $1 trillion wage package.
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