JPMorgan Chase Chairman and CEO Jamie Dimon speaks at the American Business Forum at the Caseya Center in Miami, Florida, USA on November 6, 2025.
Marco Bello | Reuters
JP Morgan The company’s wealth management division announced that it has permanently parted ways with its controversial shareholder voting proxy advisor.
The company said in an internal memo that third-party data collection and voting recommendations are no longer necessary. Instead, we launched Proxy IQ, an artificial intelligence tool that aggregates and analyzes proxy data from 3,000 annual company meetings.
Proxy voting advisors, such as Institutional Shareholder Services and Glass Lewis, typically provide research and voting recommendations. JPMorgan said it is the first major investment firm to eliminate dependence on such companies. The Wall Street Journal first reported the news early Wednesday.
Proxy rights advisers have come under fire from President Donald Trump, who in December signed an executive order overhauling existing rules. Trump said his acting advisers “regularly use their considerable authority to advance and prioritize radical, politically motivated agendas.”
tesla CEO Elon Musk also slammed the proxy advisory firm last October, calling it a “corporate terrorist” after ISS recommended that shareholders reject his nearly $1 trillion compensation package.
