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...UK asset manager Abrdn has slashed employee benefits as part of a fresh round of cost cuts, halving redundancy payouts and reducing the length of paid parental leave by about a third....
...The Insolvency Service declined to comment on the firms involved and whether the three people it dismissed had received any payments or other benefits in exchange for sharing information....
...Such groups might have the benefit of a trailing wind from policymakers: Labour aims to double the size of the UK’s co-operative and mutual financial services sector, according to its financial services...
...“It is always difficult when an employee only raises this partway through a management process rather than earlier on.”...
...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...Employee efficiency and productivity are key areas, he adds, with virtual assistants going from novelties and useful accessories to potentially transformative tools....
...Early estimates by the European Commission said the regulations would push up prices for services from companies such as Uber and Bolt by 40 per cent....
...However, Colin Barnes, a director at employee benefits consultancy Aon, cautioned that many such strategies were “box ticking”....
...Their rationale for favouring the status quo was based on the magnitude of the transition, potential investment risks, a lack of confidence in the associated economic benefits, and the needless management...
...This was followed by $1.3bn in debt financing from Apollo Global Management to fund purchases of shares by a new employee trust....
...IBM’s decision to reinstate its defined benefit scheme makes good business sense — other companies should follow, she argues....
...Normal service will resume on Monday April 8. ‘What sense is being a billionaire if you’re not a bully?’...
...There was, however, only one person being tried: Mohammed Ali Rashid, a former senior partner at Apollo Global Management....
...The likes of Blackstone and Apollo have rejigged their internal accounting to shove employee pay into the distinct performance fee silo in order to prop up management fee margins....
...BDO converted to an ESOP in August, using $1.3bn in debt financing from Apollo Global Management, saying this would help retain staff at a time when accounting firms are struggling with a shortage of people...
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...The manager, the employee said, was “retaliating towards me for trying to do the right thing”. Spirit declined to comment....
...Fink’s challenge was to convince the publicity shy Ogunlesi that his teams would thrive inside a 20,000-employee behemoth whose every move comes under a microscope, but the dinner was an unqualified hit....
...Jean-François Manzoni, president of the International Institute for Management Development, says entry into the executive committee is usually when tensions are most starkly revealed....
...benefits....
...The benefit was so well-received that it was extended beyond lockdowns....
...The proxy goes on to say: None of the amounts in this column individually exceeded the greater of $25,000 or 10% of the total amount of these perquisites and other personal benefits shown in this column...
...“Much of the friction of understanding bitcoin and doing the work on bitcoin asset managers was done in 2021,” reckons Steve Kurz, global head of asset management at Galaxy, referring to the private bitcoin...
...Delaying the inevitable can be the right thing to do — particularly if the alternative is losing a key employee at the wrong point in the cycle — but without truly extraordinary inputs of maturity and common...
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