Glass Lewis Wants To Know Where JPMorgan Gets Off


...paying its top executives like they're hot shit, when, in reality, they're no better than, I don't know, Citigroup.

Proxy-advisory firm Glass Lewis said that J.P. Morgan Chase & Co. shareholders should vote against the bank's executive pay plan, according to a report this week...Glass Lewis argued that J.P. Morgan "paid more than its peers, but performed about the same as its peers." The advisory firm gave the New York bank a "D" grade on pay-for-performance policies, an improvement from the "F" grade it gave on the topic a year earlier. J.P. Morgan declined to comment...Earlier this year, J.P. Morgan's board awarded Mr. Dimon $20 million in pay for 2013, a raise of 74%. Some activist investors have criticized the board's decision and predicted the large increase will lower shareholder support for executive-pay practices at this year's annual shareholders meeting.

Glass Lewis Recommends Voting Against J.P. Morgan's Pay Plan [WSJ]