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ISS OKs Two Banks' Exec Pay

Proxy firm endorses compensation packages at JPMorgan, Morgan Stanley.

By Michael J. Moore, Bloomberg | Updated on May 01, 2012

JPMorgan Chase & Co. and Morgan Stanley’s executive compensation packages received endorsements from ISS Proxy Services USA, the firm whose negative recommendation helped sink a similar plan at Citigroup Inc.

JPMorgan and Morgan Stanley displayed “reasonable alignment” between shareholder returns and pay for Jamie Dimon and James Gorman, the firms’ respective chief executive officers, ISS analysts wrote in separate reports dated April 27. Glass Lewis & Co., another shareholder advisory firm, also endorsed the pay plans for the New York-based banks, which will hold their meetings on May 15.

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