"JPMorgan Asset Management, which manages more than $7 trillion in client assets - severed all ties this week with proxy advisory giants ISS and Glass Lewis. It will now rely solely on an internal, AI-driven voting platform called Proxy IQ - the first such move by a major asset manager. It comes days after President Trump issued an executive order directing federal agencies to investigate proxy advisers, citing concerns that their influence on board votes, CEO pay, and ESG policies"
"Yet in dismantling the old gatekeepers, JPMorgan may be quietly installing itself as a new one. By replacing outside advisers with its own AI platform, it now controls the very machinery of shareholder voting it once condemned. What began as a crusade against centralized influence may be remembered as a corporate land grab. These developments underscore the rise of a more decentralized and digitally engaged electorate - part of a broader shift toward democratization of investing,"
JPMorgan Asset Management severed ties with proxy advisory firms ISS and Glass Lewis and will rely solely on an internal, AI-driven voting platform called Proxy IQ. The move follows an executive order from President Trump urging federal investigations into proxy advisers over alleged political influence on board votes, CEO pay, and ESG policies. CEO Jamie Dimon sharply criticized proxy advisers as incompetent and declared their dominance over. By replacing external advisers with its AI system, JPMorgan gains control over shareholder voting processes, potentially shifting influence from traditional gatekeepers to a centralized corporate-controlled platform amid rising digital investor engagement.
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