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

JPMorgan Chase

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• 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...