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Illinois SURS on lookout for compensation consultant
trueIllinois State Universities Retirement System issued an RFP for consulting firms to provide a comprehensive compensation study of its 120 staff positions.
Johnson Associates: Managers' bonuses expected to jump 10% to 15%
trueMoney management professionals can expect to see a jump of 10% to 15% over last year's bonus payouts, according to projections from compensation consultant Johnson Associates.
CalPERS doubles employee bonuses as losses recouped
trueCalPERS doubled bonuses to its staff as the $278.3 billion fund recouped losses suffered in the recession.
Oracle shareholders reject executive pay, again
trueOracle Corp. shareholders rejected the pay packages of CEO Larry Ellison and other executives, hewing to the calls by institutional investors and a proxy adviser that said their compensation is out of sync with the company's performance.
DiNapoli: Washington 'dysfunction' to dent Wall Street profits in 2nd half of year
trueWall Street produced $10.1 billion in profits for the first half of the year, but second-half profits could be suppressed due to “dysfunction” in Washington, higher interest rates and greater litigation costs.
CEO pay disclosure seen as costly burden that won't help investors — Towers Watson
trueOnly one in 10 compensation professionals at U.S. corporations believes CEO pay ratio disclosure will provide useful information for investors and companies, according to results of a survey by Towers Watson.
Blacktone's Schwarzman regrets selling BlackRock in 1994
trueSteve Schwarzman said his decision 19 years ago to sell what would become the world's largest money manager was a “heroic” mistake.
CEO-to-worker pay ratio disclosure proposed by SEC
trueA divided U.S. Securities and Exchange Commission proposed that public companies disclose how much more their chief executives earn than rank-and-file workers.
Putnam sees growth, but profits proving more elusive
truePutnam Investments LLC hasn't been contributing many profits to parent Power Financial Corp. since the money manager was acquired by the Canadian firm in 2007.
CEO, CFO pay leveling off, study finds
trueThe median compensation for CEOs fell 0.3% last year compared with a year earlier, while it rose only 1.4% for CFOs, according to a study of pay trends released Tuesday by Compensation Advisory Partners.
A new level for incentives
trueProposals for performance-based pay for directors - potentially paying in the millions of dollars, as arose in two proxy proposals this year - should draw more attention to the compensation structure for corporate board members.
Taking on too many commitments, directors put corporate value at risk
trueThe number of outside board affiliations associated with a company's directors ought to be a prime concern in the due diligence process when one is contemplating an investment stake in that company.
Florida SBA advisory council recommends 70% pay raise for Williams
trueFlorida State Board of Administration, Tallahassee, could raise the combined annual base salary and incentive award of Ashbel C. Williams Jr., executive director and chief investment officer, 70.3% to $553,500, if recommendations of its investment advisory council are adopted by trustees.
EU's draft money manager pay rules will backfire, lawmaker says
trueEuropean Union proposals to limit fund manager bonuses are “crude” and would drive up fixed salaries if implemented, said Syed Kamall, a London-based member of the European Parliament.
Johnson Associates: Incentive compensation for money managers expected to rise 10% to 15%
trueIncentive compensation in the money management industry is expected to increase 10% to 15% in 2013, sparked by gains in assets under management and positive net flows.