Institutional Shareholder Services
| Company type | Private |
|---|---|
| Industry | Investment Management |
| Founded | 1985 |
| Headquarters | Rockville, Maryland, United States |
Key people | Gary Retelny (CEO) |
| Services | Proxy advisory SRI advisory Corporate governance Market intelligence |
| Parent | Deutsche Börse Group |
| Subsidiaries | ISS-Ethix FWW Fund Services |
| Website | issgovernance |
Institutional Shareholder Services Inc. (ISS) is an American proxy advisory firm. Hedge funds, mutual funds and similar organizations that own shares of multiple companies pay ISS to advise (and often vote their shares) regarding share holder votes. As the leading firm in the industry, ISS commands a 48 percent market share as of 2021, with its nearest rival, Glass Lewis, holding a 42 percent market share.
In response to ISS's recommendations to vote against fee-shifting provisions in the event of securities fraud litigation, some have criticized ISS and suggested that it needs to be regulated.
As of November 2025, ISS and Glass Lewis were the subject of an FTC antitrust investigation focused on how proxy advisors steer investors on controversial topics. In December 2025, President Donald Trump signed an executive order to reassess existing rules around proxy advisory firms, stating that they "regularly use their substantial power to advance and prioritize radical politically-motivated agendas."
In January 2026, JPMorgan announced that it will no longer use proxy advisors for shareholder votes, becoming the first major asset manager to end its reliance on such firms through the use of alternative AI tools.