Wells Fargo cuts ties with proxy adviser ISS, WSJ reports
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Wells Fargo has ended its relationship with proxy adviser ISS, opting to make voting decisions on shareholder proposals internally. This move follows criticism from conservatives and business leaders regarding proxy advisers' influence on corporate governance. The decision aligns with a broader trend, as JPMorgan's asset management division also announced it would stop using proxy advisers. The proxy advisory industry has faced scrutiny, with claims of political bias, which it denies.
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