JPMorgan is ditching proxy advisors and turning to AI for shareholder votes in the US

JPMorgan's asset and wealth management unit is dropping proxy advisors for shareholder voting in the US. In place of external human advisors, the bank is launching an in-house AI tool. The tool, named Proxy IQ, will cover all aspects of the voting process, according to an internal memo. JPMorgan's asset and wealth management division is ditching its long-held practice of using external proxy advisors for advice on shareholder voting decisions. The bank said it was "the first major investment firm ...