Asset Managers Are Prepping Layoffs and Slashed Bonuses as the Pandemic Pressures the Already-squeezed Industry. Here Are the Jobs Most at Risk

Managing director Alan Johnson said employees on the support and operations side of the business, like those involved in processing and lower-level technology functions, will likely be most vulnerable.

The dim projections underscore how asset managers are under pressure as they navigate falling fees for products and thinning profit margins in a highly uncertain economic environment the coronavirus pandemic has brought on.

“This is going to be a very difficult end of the year,” Alan Johnson, the firm’s managing director, said in a phone interview.

Investors shifting out of stocks and flocking to lower-risk, lower-fee products like bonds during the volatility this year has had another negative impact on revenue, he said.

Business Insider / August 10, 2020

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