Jamie Dimon, chairman and chief executive of JPMorgan Chase, chided shareholders as "lazy" for casting votes at annual meetings based on the advice of proxy advisers that have questioned his pay and power.
"God knows how any of you can place your vote based on ISS or Glass Lewis," Dimon, 59, said Wednesday at an investor conference in New York. "If you do that, you are just irresponsible, I'm sorry. And you probably aren't a very good investor, either."
JPMorgan's board is reviewing how it pays top executives including Dimon after a record low percentage of shareholders voted this month to approve their latest packages. Proxy advisers Institutional Shareholder Services and Glass Lewis had recommended investors reject the pay resolution at the firm's annual meeting, saying the bank lacks preset goals to determine compensation and didn't give a good reason for giving Dimon his first cash bonus in three years.
Two years ago, Dimon fended off a push by some investors to have the board name an independent chairman. ISS and Glass Lewis had recommended investors back that measure.