BlackRock CEO Laurence Fink Takes Pay Cut

Asset-management professionals will end 2019 with flat growth in bonus packages over 2018, according to a projection by compensation consultant Johnson Associates. Last year, asset-management professionals ended with bonus packages 3% to 4% higher than the previous year. Wall Street Journal / April 12, 2019 READ ARTICLE

Wall Street’s Dirty Secret: Pay is Trending Down

“We don’t have the extreme levels of pay we saw 10 years ago,” said Alan Johnson, a Wall Street pay consultant. “The people making $10 million or $20 million a year aren’t there anymore.” Wall Street pay may be about to soar even higher as the Trump administration takes an ax to some Obama-era regulations.…

Active Managers Move Closer to Being Endangered Species

Unless active managers can differentiate themselves and their investment strategies, “like any industry that sells a lot of generic products, the active side of the industry will inevitably be smaller,” said Alan Johnson, managing director and president of compensation specialist Johnson Associates Inc., New York. Pensions & Investments / April 1, 2019 READ ARTICLE

Managers Realizing That a New World Needs New People

“The investment industry is behind the times and resisting change,” said Alan Johnson, managing director and president of Johnson Associates Inc., New York, a money manager compensation consultant. Mr. Johnson said the current “belt-tightening” the industry is undergoing will inevitably reduce the total headcount as managers rationalize and retrench their businesses by shedding “half-hearted” investment…

“Kind of Inevitable” – Wells Fargo CEO Departs

Alan Johnson, founder of compensation consultancy Johnson Associates, calls Sloan’s announced departure “kind of inevitable.” He says it is likely the board has been seeking replacements in recent months, and hopefully isn’t reacting only to Sloan’s testimony before Congress several weeks ago. Johnson believes the most logical successor for Sloan will be an executive at…

Wall Street Average Bonus Slid 17% in 2018, New York State Says

Wall Street’s average bonus fell 17 percent in 2018 to $153,700, the first decline in three years, according to estimates by New York State Comptroller Thomas DiNapoli… While DiNapoli didn’t break out bonuses by business lines, equities traders probably fared best, based on forecasts in November by pay consultant Johnson Associates Inc. Fixed-income traders and merger…

Managers Answer Tough Quarter With Job Cuts

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…