JPMorgan won’t use controversial proxy advisors for shareholder votes
JPMorgan Chase & Co. Chairman and Chief Executive Officer Jamie Dimon speaks during the Americas Business Forum at the Kaseya Center on November 6, 2025 in Miami, Florida.
Marco Bello | Reuters
JPMorgan said its asset management division had completely parted ways with controversial proxy advisers for shareholder votes.
In an internal memo, the firm said it no longer needed third-party data collection or voting recommendations. Instead, it launched an AI tool called Proxy IQ to collect and analyze proxy data from 3,000 annual company meetings.
Proxy advisors such as Institutional Shareholder Services and Glass Lewis often provide research and voting recommendations. JPMorgan said it was the first major investment firm to eliminate reliance on such companies. The Wall Street Journal first reported the news early Wednesday.
Proxy advisers are under fire from President Donald Trump, who signed a deal. executive order It is about to re-evaluate the current rules in December. Trump said surrogate advisers “regularly use their significant power to advance and prioritize radical politically motivated agendas.”
Tesla’s CEO Elon Musk also lashed out at proxy advisors last October, calling them “corporate terrorists” after ISS recommended shareholders reject a nearly $1 trillion pay package.
