With volatility hurting returns, some traditional firms acting to address concerns over spending.

Most traditional managers saw their assets under management decline during the fourth quarter, a Pensions & Investments analysis of 24 publicly held money managers found…

Asset managers want to be “leaner and have faster decision-making, which means you can’t have too many people near the middle or top” of the organization, said Alan Johnson, managing director of compensation consulting firm Johnson Associates Inc., New York.

Mr. Johnson said recent cuts were “about what I expected, which is moderate adjustments to headcount.”

Pensions & Investments / February 18, 2019