April 1 (Reuters) - Institutional Shareholder Services

has advised Goldman Sachs ( GS ) investors to reject the board's

decision to grant one-time awards to its top two executives,

becoming the second prominent proxy adviser to do so.

The combined $160 million stock awards to CEO David Solomon

and Chief Operating Officer John Waldron, who is widely

considered Solomon's potential successor, were unveiled in

January to retain them and ensure stability in the top ranks.

While the rationale could be compelling for some

shareholders, the awards lacked "rigorous, pre-set

performance-vesting criteria" and their "magnitude and

structure" were concerning, ISS said in a report dated Monday.

The pushback highlights a persistent dilemma on Wall Street

- balancing fierce competition for top talent with concerns over

what some deem to be excessive compensation.

Glass Lewis, another major proxy adviser, has also

recommended that investors vote against the pay of top Goldman

executives.

Goldman Sachs ( GS ) did not immediately respond to a request for

comment outside regular business hours. It had previously said

in response to the Glass Lewis opposition that the awards were

meant to "retain our current leadership team ... and maintain a

strong succession plan" amid intense competition for talent.

Disputes between proxy advisers and banks over issues of

corporate governance have escalated in recent years. Last year,

such advisers urged JPMorgan Chase ( JPM ) and Bank of America ( BAC )

to separate the CEO and chair roles, which is a common

practice at many banks.

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

often wield "undue influence".

(Reporting by Niket Nishant in Bengaluru; Editing by Anil

D'Silva)