April 29 (Reuters) - BlackRock ( BLK ) shareholders

should vote against the proposal to ratify CEO Larry Fink's 2023

compensation at its annual meeting, proxy advisory firms ISS and

Glass Lewis said in separate recommendations.

ISS said Fink's pay package totaling roughly $27 million for

the year is higher than the industry's median pay for CEOs.

"While the majority of equity awards are based on clearly

disclosed multi-year goals that appear reasonably rigorous,

there are significant concerns regarding the process used to

determine annual cash incentive awards," ISS said.

Glass Lewis said it maintains reservations surrounding the

structure of the sizable retention awards granted to a handful

of executive officers during the year in review.

"We believe that the disconnect between pay and performance

during the year in review warrants shareholder concern," Glass

Lewis said.

Fink, who co-founded BlackRock ( BLK ) in 1988, has been under

scrutiny in recent years over the company's environmental,

social, and governance (ESG) policies, with lawmakers in the

Republican camp accusing it of over-emphasizing sustainability

issues.

London-based activist investor Bluebell Capital Partners has

also proposed an amendment to the world's largest asset

manager's bylaws to require the chairman be an independent

director. ISS and Glass Lewis recommended shareholders vote

against the proposal.

Assets at BlackRock ( BLK ) hit a record $10.5 trillion in the first

quarter and the company posted a 36% jump in profit as rising

global equity markets boosted its investment advisory and

administration fees.