On November 6, 2025, during the America Business Forum at Kaseya Center in Miami, Florida, Jamie Dimon, the Chairman and Chief Executive Officer of JPMorgan Chase & Co., addressed recent strategic changes within the company.
JPMorgan's asset management division announced in an internal memo that it has completely severed ties with contentious proxy advisors for shareholder voting matters. The firm explained it no longer requires third-party data collection or voting recommendations and has launched an artificial intelligence tool called Proxy IQ. This tool is designed to collect and analyze proxy data from 3,000 annual company meetings, streamlining the process.
Traditionally, proxy advisors like Institutional Shareholder Services (ISS) and Glass Lewis have offered research and voting recommendations. However, JPMorgan is now the first major investment firm to eliminate its dependency on such companies. This development was initially reported by The Wall Street Journal earlier on Wednesday.
Proxy advisors have faced criticism, most notably from former President Donald Trump, who signed an executive order last December to review existing regulations. He accused these advisors of using their influence to promote politically driven agendas. Additionally, Tesla CEO Elon Musk condemned proxy advisors last October by referring to them as 'corporate terrorists' after ISS advised shareholders against approving his substantial pay package nearing $1 trillion.