CEOs of the country’s largest asset managers, and megabanks with asset management divisions, are finding themselves in the hot seat over their high earnings relative to those of their employees.
The first wave of CEO pay ratio disclosures began last year, drawing scrutiny from Congress as the industry marked a decade since the 2008 financial crisis. Meanwhile, a Pensions & Investments analysis of proxy filings for 11 firms found that top executives received a mix bag as far as raises vs. pay cuts last year.
Overall, five CEOs saw their total compensation drop, while six received a bump in pay over 2017…
Alan Johnson, managing director and president of compensation specialist Johnson Associates Inc., New York, said he expects CEO pay to vary, with slightly more firms raising pay in 2018, despite the down fourth quarter. Asset managers will look at financial and investment results, as well as the company’s ability to attract new assets when assessing compensation, however, he added.
Pensions & Investments / April 29, 2019