Original Source Material
The bank’s investment management arm becomes the second major asset manager to ditch third-party proxy advisory firms for a proprietary service.
Wells Fargo launches internal proxy voting service
Summary
- Wells Fargo's investment management arm has launched an internal proxy voting service, becoming the second major asset manager to do so.
- This move suggests a trend away from third-party proxy advisory firms towards proprietary services.
Why It Matters for Texas Credit Unions
The article does not mention Texas specifically and is focused on a national banking issue rather than credit union operations in Texas.