{"id":405577,"date":"2026-01-13T00:44:22","date_gmt":"2026-01-13T00:44:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/405577\/"},"modified":"2026-01-13T00:44:22","modified_gmt":"2026-01-13T00:44:22","slug":"jpmorgan-chase-to-cut-ties-with-proxy-advisory-firms-use-ai-powered-tool-instead-report","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/405577\/","title":{"rendered":"JPMorgan Chase to cut ties with proxy advisory firms, use AI-powered tool instead: report"},"content":{"rendered":"

JPMorgan Chase\u2019s JPM-N<\/a> asset-management unit \u200bis cutting all ties \u200dwith proxy advisory firms effective immediately, the Wall Street Journal reported on Wednesday, citing an internal memo.<\/p>\n

This coming \u200dproxy \u200bseason, which usually starts from March and continues through June ahead of annual shareholder meetings held by corporates, the bank will start using an internal artificial-intelligence-powered platform, it is \u2060calling Proxy IQ, to assist with U.S. company votes, the report said.<\/p>\n

Proxy advisory firms such as Glass Lewis and ISS review shareholder proposals and corporate governance concerns and issue \u200cvoting recommendations \u200dto institutional investors ahead of annual shareholder meetings.<\/p>\n

Their \u200dadvice can sway outcomes on board \u200celections, executive pay decisions and environmental or \u2060social resolutions.<\/p>\n

The Globe and Mail\u2019s comprehensive ranking of Canada\u2019s corporate boards for 2025<\/a><\/p>\n

Both firms have long faced criticism, often \u200bfrom corporate executives, over the influence of their recommendations, but their guidance is widely sought by institutional investors.<\/p>\n

A spokesperson for the bank, Glass Lewis and ISS did not immediately respond \u200bto Reuters\u2019 requests for comment. Reuters could not independently verify the report.<\/p>\n

Conservatives and some business leaders have for years raised a range of complaints about proxy advisers and large fund managers, arguing that they often recommend \u2060votes against boardroom decisions or directors and place too \u2060much emphasis on climate and social issues. In December, U.S. President Donald \u200cTrump signed an executive order aimed at increasing oversight of the proxy advisory industry, on the grounds that top firms often \u201cadvance and prioritize radical politically-motivated agendas.\u201d<\/p>\n

Glass Lewis and ISS have repeatedly denied \u200cany wrongdoing on the allegations. <\/p>\n","protected":false},"excerpt":{"rendered":"JPMorgan Chase\u2019s JPM-N asset-management unit \u200bis cutting all ties \u200dwith proxy advisory firms effective immediately, the Wall Street…\n","protected":false},"author":2,"featured_media":405578,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,901,276,277,888,902,879,877,903,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-405577","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-alberta","tag-artificial-intelligence","tag-artificialintelligence","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/405577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=405577"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/405577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/405578"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=405577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=405577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=405577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}