A “perfect storm” is taking shape, with a global recession looming and broader industry shake-ups coming as well, the managing director of Johnson Associates Inc. said.

“It looks like it’s going to be a very, very tough compensation year,” he said in an interview Wednesday. “This is a shock to the system that you see about every 10 years.”

…“The one silver lining is it’s going to change attitudes about working from home, which truthfully in financial services is long overdue,” he said.

Bloomberg News / March 25, 2020