MONEY MANAGEMENT
Most money management workers can expect to see bonuses drop by 10% to 15% despite a recovering market and stable asset flows.
As of Aug. 5, all publicly traded money managers tracked by their assets rise saw gains in the second quarter.
Terrence Gray and Jian Tao joined Lazard Asset Management as portfolio managers, bringing with them a $500 million investment strategy.
Standard Life Aberdeen recorded the lowest redemptions in the first half of the year since its merger, as assets grew 6% over the period.
BlackRock's 16,000 employees can work remotely, in the office or a combination of the two through the end of the year.
Ares Management reported $158.4 billion in assets under management in the second quarter, an 11.5% gain from the same quarter in 2019.
Allianz's second-quarter profit was battered by virus-related claims and falling fees, neutralizing a boost in assets at its PIMCO unit.
KKR reported $221.8 billion in assets under management as of June 30, an 8% increase from $206 billion a year ago.
Bess Joffe will join the Church Commissioners for England as head of responsible investment, effective Aug. 10.
Assets at GAM Holdings' investment management unit fell 26.7% over the six months ended June 30, to $37.4 billion.
