“For the last 20 years, it’s been a great business — probably too great,” said Alan Johnson, managing director, compensation consultant at Johnson Associates Inc., New York. “The shifts to lower fees mean asset managers have had to find other ways to maintain margin. … Earnings are likely to be down, with layoffs in the…
Compensation will be strongest at firms that have the scale to maintain strong profits or the technology platforms to keep costs low, including managers that focus on passive products and exchange-traded funds. Despite industry pressures, overall headcount increased in 2018 for both public and private managers, specifically in technology, product development and international markets. But…
New York City has seen an exodus of banks’ back-office workers this year — and can expect to see even more shedding in 2019 — as weaker regulatory oversight has encouraged big deals and boosted profits to all-time highs. Wall Street, which made a record $62 billion in profit last quarter, is hiring less-experienced compliance…
What changed in 2018 is that markets became more volatile and investors turned increasingly cautious, slowing the flood of new money into cheaper index funds. A decline in assets—and revenue—is no longer a dormant threat for managers. And many are warning it’s going to get worse. “2019 will be the start of much tougher years…
“The major investment and commercial banking firms continued their strong performance, especially in equities trading and underwriting,” said Alan Johnson, managing director of Johnson Associates and one of the nation’s foremost authorities on Wall Street compensation. “Private-equity firms also turned in a second straight year of healthy financial results and strong fundraising.” Johnson said 2019…
One way banks are looking to cut costs: get out of the Big Apple. “Our clients really realize it’s just too danged expensive to do business in New York, Boston and San Francisco,” Johnson Associates Chief Executive Alan Johnson told The Post. New York Post / November 12, 2018 READ ARTICLE
“Beginning now through the first quarter of 2019, we expect to see headcount reductions through both natural attrition and selective terminations,” said Alan Johnson, managing director of Johnson Associates. eFinancialCareers / November 12, 2018 READ ARTICLE
The asset management segment was initially on track to see a 7% increase in year-end incentives, but starting in the second half of this year projections slid to a 5% increase due, in part, to rising competition among money managers and fee pressures, said Alan Johnson, managing director of Johnson Associates, in a phone interview.…
For a second straight year, much of the industry will get “moderately” higher incentive payouts in coming months, according to a closely watched annual report released Monday by compensation consultant Johnson Associates Inc. Its projections for raises of as much as 20 percent show jittery markets can be hard on people who help companies execute…
Higher Compensation in a Complicated Environment November 2018 READ PRESENTATION