JPMorgan Asset Unit Shifts Proxy Voting to In-House AI System

JPMorgan abandons proxy advisers and turns to AI

JPMorgan Chase’s asset-management arm has ended its relationship with proxy advisory firms, moving to oversee shareholder voting internally with AI technology, reported the Wall Street Journal.   The decision applies immediately and comes as regulatory scrutiny increases around the proxy advisory sector.  Managing assets exceeding $7tn, JPMorgan’s asset-management business must cast votes on behalf of clients at thousands of shareholder meetings…

JPMorgan Asset Unit Shifts Proxy Voting to In-House AI System

JPMorgan Chase’s asset management division is moving away from external proxy advisory firms and will instead rely on a proprietary, artificial intelligence-driven platform to manage proxy voting and corporate meeting analysis for U.S. equities. J.P. Morgan Asset & Wealth Management plans to deploy an internal tool known as Proxy IQ, which will gather and analyze