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The unit, among the world’s largest investment firms with more than $7t in client assets, has to vote shares in thousands of companies. This coming proxy season, it will start using an internal artificial-intelligence-powered platform it is calling Proxy IQ to assist on U.S. company votes. The bank will use the platform to manage the votes and the AI also will analyze data from more than 3,000 annual company meetings and provide recommendations to the portfolio managers.
In a statement on last month’s executive order, ISS said that it doesn’t dictate or set corporate-governance standards and its sophisticated institutional-investor clients make their own decisions. Glass Lewis, meanwhile, recently said it would no longer offer its “benchmark” voting recommendations to clients starting in 2027, referring to the firm’s main vote recommendations that are distributed broadly, focusing on tailored advice to individual clients instead.
