MFDF - Mutual Fund Directors Forum - Salary, Job Cuts Increase as Asset Managers Pare Expenses test

Member Login

Request an account

Sample Banner 2

Salary, Job Cuts Increase as Asset Managers Pare Expenses

The Wall Street Journal reports that PIMCO is among asset managers warning employees that their pay could remain flat as 2018 comes to a close. According to the report, increasing competition and consolidation have led firms to make workforce adjustments. Oppenheimer Funds and Invesco Ltd.  are expected to cut about 1,000 jobs after they merge in 2019, and Invesco plans $475 million cost cuts over the next two years, the WSJ reported. T. Rowe Price  is planning to close an operations center in Tampa, and BlackRock is scrutinizing costs, the WSJ reported. The report quoted consultants who said only 30% of asset managers were able to expand assets, increase revenue faster than costs and invest in themselves between 2014 and 2017.

  • All
  • Accounting and Audit
  • Advisory Contracts
  • Board Governance
  • Board Governance: Board Leadership
  • Board Governance: Compensation
  • Board Governance: Oversight of CCO
  • Board Governance: D&O Insurance
  • Board Governance: Self-Evaluation
  • Closed-end Funds
  • ETFs
  • Other Oversight
  • Other Oversight: Alternative Investments and Derivatives
  • Other Oversight: Custody
  • Other Oversight: Fixed Income funds
  • Other Oversight: Distribution
  • Other Oversight: Portfolio Trading
  • Other Oversight: Proxy Voting
  • Other Oversight: Securities Lending
  • Legislative News
  • Money Market Funds
  • Reference
  • Regulatory News
  • Risk
  • Shareholder Disclosure
  • Valuation
  • Webinars
  • Aaron New Tag