April 3 (Reuters) - Top proxy adviser Institutional

Shareholder Services (ISS) on Wednesday recommended investors

support a call for an independent board chair at Goldman

Sachs ( GS ).

"Shareholders would benefit from more independent oversight

in the form of an independent chair," ISS wrote in a report sent

by a representative, ahead of the bank's annual shareholder

meeting on April 24.

ISS also recommended votes 'for' all the bank's director

nominees and said that "cautionary support" was warranted for

its executive pay although the pay program relies too much on

discretion.