JPMorgan Persuades Influential Critic to Back Its Executive Pay

JPMorgan Chase & Co., seeking to recover from a rare investor rebuke last year over how it compensates executives, persuaded a key critic to reverse its stance and support the bank’s practices.

Proxy adviser Institutional Shareholder Services Inc. changed this year’s recommendation on Tuesday, suggesting investors cast a “cautionary vote” in favor of the bank’s pay decisions. JPMorgan had written to ISS on Monday citing an error in the adviser’s earlier analysis and asking it to revise its recommendation that shareholders vote against the plan. ISS agreed.