{"id":499954,"date":"2026-01-07T22:54:08","date_gmt":"2026-01-07T22:54:08","guid":{"rendered":"https:\/\/www.europesays.com\/us\/499954\/"},"modified":"2026-01-07T22:54:08","modified_gmt":"2026-01-07T22:54:08","slug":"jpmorgans-asset-management-arm-to-end-use-of-proxy-advisers-in-us-memo-shows","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/499954\/","title":{"rendered":"JPMorgan’s asset management arm to end use of proxy advisers in US, memo shows"},"content":{"rendered":"

Jan 7 (Reuters) – JPMorgan Chase’s (JPM.N), opens new tab<\/a> asset management division no longer plans to use proxy advisers in the U.S., according to an internal memo seen by Reuters on Wednesday, a move the bank described as an industry first.Conservatives and some business leaders have for years leveled complaints<\/a> about proxy advisers and large fund managers, arguing that they often recommend votes against boardroom decisions or directors and place too much emphasis on climate and social issues.<\/p>\n

Sign up here.<\/a><\/p>\n

Proxy advisory firms review shareholder proposals and corporate governance issues and provide voting recommendations to institutional investors ahead of annual shareholder meetings.<\/p>\n

JPMorgan Chase said in the memo it no longer needs third-party data collection or voting recommendations in the country. It plans to rely on a newly launched AI-powered in-house tool, called Proxy IQ, which aggregates and analyzes proprietary data from more than 3,000 annual company meetings.<\/p>\n

“We are proud of our four-decade record serving the global institutional investor community with independent and high-quality governance research, recommendations, and voting solutions, and will continue to do so,” a spokesperson for ISS said in an emailed statement to Reuters.<\/p>\n

Proxy firm Glass Lewis did not immediately respond to a request for comment on JPMorgan’s move. The news was first reported by the Wall Street Journal earlier on Wednesday.<\/p>\n

The shift comes as the industry continues to face criticism from U.S. President Donald Trump and prominent corporate executives over the influence of proxy advisers’ recommendations, as their guidance remains widely used by institutional investors.<\/p>\n

In December, Trump signed an executive order<\/a> aimed at increasing oversight of the proxy advisory industry, on the grounds that top firms often “advance and prioritize radical politically-motivated agendas.”JPMorgan’s long-time CEO Jamie Dimon and Tesla (TSLA.O), opens new tab<\/a> chief Elon Musk have been among the most outspoken critics of the proxy advisory industry in corporate America.Corporate governance analysts and attorneys have, however, said<\/a> the White House order could weaken shareholder rights, while Glass Lewis and ISS have repeatedly denied any wrongdoing.<\/p>\n

Reporting by Manya Saini and Pritam Biswas in Bengaluru; Editing by Shinjini Ganguli and Krishna Chandra Eluri<\/p>\n

Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n

Purchase Licensing Rights<\/a><\/a><\/p>\n

Manya reports on prominent publicly listed U.S. financial firms, including Wall Street\u2019s biggest banks, card companies, asset managers, and fintechs. She also covers late-stage venture capital funding, initial public offerings on U.S. exchanges, and regulatory developments in the cryptocurrency industry. Her work appears in the finance, markets, business, and future of money sections of the Reuters website.
\nA passionate reader, she loves books across genres, from classics to contemporary fiction. She holds an undergraduate degree in Political Science from the University of Delhi and a master\u2019s in journalism from the Symbiosis Institute of Media and Communication.<\/p>\n","protected":false},"excerpt":{"rendered":"Jan 7 (Reuters) – JPMorgan Chase’s (JPM.N), opens new tab asset management division no longer plans to use…\n","protected":false},"author":3,"featured_media":499955,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[216147,224387,5673,216192,216193,100774,217023,217543,224382,224383,217544,64,224388,216194,218819,216409,216216,224402,224393,224394,224401,216215,224389,67458,216197,101727,224390,224391,216399,224395,224396,224397,216400,224398,4630,165849,216149,224392,224400,224380,224399,255,216201,217029,217351,224384,224385,224381,216408,216158,224386,216157,67,132,68],"class_list":{"0":"post-499954","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-amers","9":"tag-aut","10":"tag-auto","11":"tag-bact","12":"tag-bisv","13":"tag-biz","14":"tag-blr","15":"tag-bnk","16":"tag-bnks","17":"tag-bnks1","18":"tag-bsvc","19":"tag-business","20":"tag-carm","21":"tag-cmpny","22":"tag-cycs","23":"tag-destlita","24":"tag-destocabsm","25":"tag-destocap","26":"tag-destocog","27":"tag-destocor","28":"tag-destosec","29":"tag-destousbsm","30":"tag-eleav","31":"tag-fin","32":"tag-fine1","33":"tag-fins","34":"tag-fnmkt","35":"tag-fnmkt1","36":"tag-invbis","37":"tag-invbnk","38":"tag-invbr","39":"tag-invbr1","40":"tag-invm","41":"tag-invman","42":"tag-legal","43":"tag-mtpix","44":"tag-namer","45":"tag-nrlinocor","46":"tag-nrlpaocap","47":"tag-nrlpaocog","48":"tag-nrlpaosec","49":"tag-personal-finance","50":"tag-privt","51":"tag-publ","52":"tag-pxp","53":"tag-ratielectrification-zero-emmision","54":"tag-ratiev-strategy","55":"tag-ratisustainable-ev-supply-chain","56":"tag-reuters-legal","57":"tag-topcmb","58":"tag-topicrati-supply-chain-manufacturing","59":"tag-topnws","60":"tag-united-states","61":"tag-unitedstates","62":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/499954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=499954"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/499954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/499955"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=499954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=499954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=499954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}