Wells Fargo Wealth Management Arm Cuts Ties With Proxy Adviser ISS and Shifts to Internal Voting
Wells Fargo's wealth management division has cut ties with proxy adviser ISS. The firm will now use an internal system to make shareholder voting decisions.
Insights:
Wells Fargo & Company has severed its relationship with Institutional Shareholder Services, also known as ISS, within its wealth and investment management division. According to a report by the Wall Street Journal that was shared with Reuters by a person familiar with the matter, the bank will now make shareholder voting decisions using a new internal system rather than relying on external proxy advisers.
