JPMorgan to Leverage AI Solutions, Will Abandon Reliance on Proxy Advisory Firms

JPMorgan Chase (NYSE:JPM) has announced its decision to abandon reliance on third-party proxy advisory firms, opting instead for an in-house artificial intelligence solution. This development, detailed in an internal company memorandum and highlighted by The Wall Street Journal, underscores a growing dissatisfaction with the proxy advisory sector amid regulatory scrutiny.Proxy advisors, such as Institutional Shareholder Services (ISS) and Glass Lewis, have long played a pivotal role in guiding institutional ...