C-Suite Roles and Remuneration 2022 Survey

Paige C. Scott, Senior Partner at Kingsley Gate, and the Institutional Investor’s European Institute’s report on Best Practices for C-Suite Roles and Remuneration in European Asset Management - 2022 Survey Results, examines the key challenges and opportunities in retaining top talent within the asset management industry in Europe. The paper addresses the impact of the “great resignation” trend and the evolving demands of employees and also dives deep into the compensation trends, the importance of diversity, equity, and inclusion (DE&I), and future growth opportunities for asset managers in Europe.

Compensation Trends

The report highlights the significant rise in compensation in 2021 as markets rebounded from the pandemic. However, the outlook for 2022 suggests a potential decline of 5% to 8% due to various factors such as bear markets, geopolitical tensions, inflation concerns, and the lingering effects of the pandemic.

Retention Challenges

Employees now expect more than just financial rewards. They seek a stable and supportive culture, recognition of achievements, competitive compensation, and a commitment to growth while making a positive impact. Addressing these demands is crucial to retaining senior executives in the face of the “great resignation” phenomenon.

Diversity, Equity & Inclusion

The report emphasizes the importance of cultural factors, including DE&I, in attracting and retaining top talent. While organizations recognize the significance of DE&I, few directly link compensation to DE&I outcomes. This represents an opportunity for asset management firms to enhance their practices and foster inclusive environments.

Future Opportunities

Post-pandemic, asset managers identify the UK, Italy, and Germany as regions with the most growth potential. Multi-asset, ESG (Environmental, Social, and Governance), and private market products are expected to thrive, particularly within the retail/wealth distribution channels.

This report provides valuable insights into best practices for C-Suite roles and remuneration in European asset management. By understanding the challenges and opportunities in talent retention, compensation trends, DE&I considerations, and future growth prospects, asset managers can develop strategies to attract and retain top talent while driving sustainable success.

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