Johnson Associates Annual Financial Services Presentation 2010

Location:  Yale Club, New York City

Compensation & Business Transition Continues:  2010 Mixed with 2011 Distractions

October 2010

For 2010, significant divergence in incentive funding by sector and area.  Major Investment and Commercial Banks are up 5% to down 20% or more, driven by positive investment and commercial banking (up 5%) as well as difficulties in Fixed Income and Equities (down 20% to 30%).  Asset management up across the board with asset / wealth management up 10% – 15%, while Hedge Funds are up 5% to 10%, and Private Equity up 5%.  Broader trends are becoming clearer with a more difficult trading environment and retail and brokerage receiving more of a focus.