Shareholders of BlackRock have been asked to vote against a proposal to ratify the 2023 compensation package of chairman and CEO Laurence D. Fink at its annual meeting by proxy advisory firms Institutional Shareholder Services and Glass Lewis.

Both major proxy advisory firms are recommending shareholders vote against BlackRock Chief Executive Larry Fink's roughly $27 million pay package at the asset manager's annual meeting. ISS and Glass L

BlackRock increased spending on private security for CEO Larry Fink more than threefold last year after he came under withering criticism.

(Reuters) -BlackRock shareholders should vote against the proposal to ratify CEO Larry Fink's 2023 compensation at its annual meeting, proxy advisory firms ISS and Glass Lewis said in separate recommendations.