“Compensation for 2019 reflects the significant achievements of our executives, including the development of a long-term growth strategy, implementation of a new operating approach and consistent, solid net-revenue performance,” said Patrick Scanlan, a spokesman for the bank.

ISS, which with rival Glass Lewis dominates the market for proxy advice, recommended rejecting compensation practices at fewer than 10% of companies in the S&P 500 last year. At the 46 companies singled out by ISS, referendums to back pay received an average of 65% support, according to a report from law firm Sullivan & Cromwell.

--With assistance from Anders Melin.

This article was provided by Bloomberg News.

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