April 28 (Reuters) - Institutional Shareholder Services

(ISS) has asked BlackRock ( BLK ) investors to vote against the asset

manager's executive compensation plans, escalating tensions

after a narrow win last year for its top management's

remuneration packages.

While BlackRock ( BLK ) gathered feedback in 2024 from its

50 largest shareholders after securing about 58% support for its

compensation plan last year, its efforts to address their

concerns fell short, proxy adviser ISS said.

After learning that some shareholders opposed one-time

awards, the asset manager refrained from granting any in 2024,

according to a proxy filing earlier this month.

However, the company had not addressed how shareholders'

feedback will inform future decisions around one-time awards,

ISS said.

BlackRock ( BLK ) also engaged with investors to discuss the context

behind a private markets-driven long-term incentive for its CEO

Larry Fink.

But the proxy adviser pointed out that the company had not

provided assurances that such discussions would take place

before any significant compensation changes in the future.

BlackRock's ( BLK ) annual meeting is scheduled for May 15, where

three management and two shareholder proposals will be up for

vote. While the vote on management pay is not binding,

significant opposition could still influence future decisions.

The asset manager did not immediately respond to a request

for comment outside regular business hours.

Disputes between proxy advisers and financial heavyweights

over corporate governance issues have escalated in recent years.

ISS had also urged rejection of one-time stock awards to the top

two executives at Goldman Sachs ( GS ), but shareholders

approved that last week.

JPMorgan Chase ( JPM ) CEO Jamie Dimon has argued that proxy

advisers often wield "undue influence".

Shareholder activist campaigns in North America fell 7% in

the first quarter from the same period a year earlier, according

to data from Diligent Market Intelligence.

However, the decline was less severe than in Asia, which saw

a 37% drop.