LONDON — Northern Trust Global Investments (Europe) Ltd. revised its compensation system for sales and investment professionals, making the process more structured.
The firm is altering its process to have clearer objectives and a better linkage between pay and performance to better motivate its staff as members of a team.
It's not a new package, but the alterations will depict a sharper agreement on what each individual's role is within his or her team, said Barry Sagraves, chief executive officer. With larger teams in place, the firm wants to be more "intuitive" in compensation, he said. NTGI's goal is to try to reward the right activities and behaviors, he added. Mr. Sagraves declined to give specifics on the pay changes.
The robust growth of NTGI (Europe) since entering the United Kingdom and the Continent in 1999 calls for a more formal approach, Mr. Sagraves added. The firm doubled its assets to $21.5 billion since January 2003. NTGI has $522 billion globally as of March 31.