Backlash kept coming to Jamie Dimon on Friday, two days after the JPMorgan Chase chairman and CEO called some of the bank's shareholders "lazy" for their perceived reliance on advisory firms in making voting decisions.
Dimon's assertions are "ludicrous" and proxy advisers look to have lost influence on corporate governance, said Mike Mayo, a bank analyst at CLSA. He pointed to the recent leadership scuffle at DuPont, where directors nominated by Nelson Peltz and his Trian Fund were not elected. The rejected directors had been backed by two leading advisory firms.
"If anything these advisory firms aren't tough enough," Mayo said on CNBC's "Fast Money: Halftime Report."