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Wells Fargo and JPMorgan Ditch Proxy Advisers, Go Independent

1/28/2026

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Summary

Story summary

On January 28, 2026, Wells Fargo launched an internal proxy voting service to reduce reliance on proxy advisory firms.
The bank severed ties with Institutional Shareholder Services (ISS) and will implement its own voting policy focused on clients' long-term economic interests.
The move aims to streamline the proxy voting process and enhance independence.
JPMorgan followed with a similar step, announcing it would stop using proxy advisers.

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Story summary

On January 28, 2026, Wells Fargo launched an internal proxy voting service to reduce reliance on proxy advisory firms.
The bank severed ties with Institutional Shareholder Services (ISS) and will implement its own voting policy focused on clients' long-term economic interests.
The move aims to streamline the proxy voting process and enhance independence.
JPMorgan followed with a similar step, announcing it would stop using proxy advisers.