Aaron Boles is the president of the shareholder and governance advisory firm Kingsdale Advisors.

Corporate governance is entering a new era that will test the principles that underpin shareholder democracy.

JPMorgan Chase’s JPM-N asset management unit, which oversees more than US$7-trillion in client assets, has made a consequential move. It’s severed ties with proxy advisory firms and will entrust shareholder voting recommendations to a proprietary AI platform, Proxy IQ.

This isn’t a routine operational change. It’s the latest salvo in a proxy power shift.

For decades, proxy advisers such as Institutional Shareholder Services and Glass Lewis & Co. – whose research and voting recommendations are used by institutional investors – have helped shape decisions on voting outcomes at public companies.

Proxy adviser Glass Lewis to end benchmark voting........

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