Jamie Dimon's bombshell on proxy advisory delivers a body blow to the firms he called 'incompetent'

Jamie Dimon (Credit: Eva Marie Uzcategui/Bloomberg via Getty Images)

In a break that shapes the architecture of shareholder power, JPMorgan Asset Management, which manages more than $7 trillion in client assets — severed all ties this week with proxy advisory giants ISS and Glass Lewis. 

It will now rely solely on an internal, AI-driven voting platform called Proxy IQ — the first such move by a major asset manager.