Money manager compensation
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U.K. money management staff increases 3.4% in 2013 — report
trueThe number of staffers employed by U.K.-headquartered money management firms increased 3.4% to 31,800 employees for the year ended Dec. 31, said the Investment Management Association.
J.P. Morgan Chase shareholders approve executive pay by 78% vote
trueJ.P. Morgan Chase & Co. shareholders Tuesday approved the compensation of James “Jamie” Dimon, chairman and CEO, and four other senior executives at the company by a vote of 77.9%, according to preliminary results announced at its annual meeting.
Pension funds oppose J.P. Morgan pay package
trueThree pension funds will oppose the compensation package for James Dimon, chairman and CEO, and four other senior executives at J.P. Morgan Chase & Co.
Shareholders approve Goldman Sachs pay package, re-elect all directors
trueGoldman Sachs Group Inc. shareholders Friday voted 83% to ratify the pay package of Lloyd C. Blankfein, chairman and CEO, and four other top executives, according to a statement from the company after its annual meeting.
Johnson Associates: Manager bonuses expected to rise 5% to 10%
trueMoney management professionals can expect to see a jump of 5% to 10% over last year's bonus payouts, according to projections from compensation consultant Johnson Associates.
Schroders shareholders OK executive compensation despite pension fund opposition
trueSchroders PLC shareholders approved executive remuneration at its annual general meeting Thursday, despite opposition by major U.S. and Canadian pension funds.
Wall Street bonus pool up 15% last year
trueWall Street's bonus pool rose 15% to $26.7 billion in 2013, fueled by compensation deferred from prior years, according to estimates by New York state Comptroller Thomas DiNapoli.
Hedge fund pay up 16%, but trails private equity, venture capital – 2 reports
trueHedge fund employees expect their total average annual compensation in 2013 to be $330,000, up 16% from the prior year, according to the results of a survey of hedge fund managers conducted in October and November by Benchmark Compensation.
Aberdeen Asset Management shareholders set aside pension fund opposition on pay
trueAberdeen Asset Management shareholders on Thursday by overwhelming margins voted in support of the company's executive pay program and the election of all directors, despite some pension fund opposition.
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.
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.
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.
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.
Private equity investors gain from performance-linked pay, Coller report finds
truePrivate equity investors who link pay of their own executives to performance have better performance than their peers, according to private equity manager Coller Capital's latest Global Private Equity Barometer.