London, September 30, 2009 - J Robert Scott UK held its first Asset Management HR Directors Networking Dinner. This twice yearly event is designed to bring together key HR Directors from within the industry to discuss key people issues their businesses are facing coupled with an opportunity to network with peers in the industry.

The theme of the evening was Executive Compensation - balancing the need to manage headcount cost in a challenging economic environment whilst ensuring existing compensation structures reward and retain top talent.

Attendees were:

Andy Boorman – Managing Director, Human Resources, Henderson Global Investors
Richard Fuller - Director, Human Resources, Threadneedle
Heather Davies – Director of Human Resources, Insight Investment Management
Rupert Terry - Head of Human Resources for Europe & Asia Pacific, J.P.Morgan Asset Management
Nigel Clemson – Human Resources Director, AVIVA Investors
John Self – Head of Human Resources, Western Asset Management
Mark O'Connell – Human Resources Director, Skandia Investment Group
Gary Merrick - Former Head of Human Resources, Old Mutual Asset Management
Helen Beck - Partner, McLagan

The themes discussed included:

• The outlook for 2009 Bonus Reviews within UK Asset Management
  
• Regulatory & Governmental Interventions and their impact on the industry
  
• Recruitment & Retention challenges in 2010.
  

The conversation was lively and varied. The group shared their feedback on recent conversations with the FSA relating to executive compensation levels at their firms. There was also debate around the impact of sell side compensation restructuring in response to regulatory challenge and the effect this may have on hiring of top talent into buy side roles.

There was strong debate relating to expectations around bonus levels for employees in 2009 - revenues have improved and equities markets have stabilised, but does that translate to higher expectations on bonus payouts for top talent and how has each firm responded to the communication and expectation-setting required by such challenges? With the breadth of organizations being represented – from bank-owned asset managers through to publicly quoted firms, the responses were varied but fascinating nonetheless.

Recruitment trends in the market were also discussed. The challenge around ensuring that firms have the capacity to grow whilst maintaining rigour around cost of hiring and overall headcount, produced some innovative suggestions from the attendees about how their firms were responding to these trials.

This is the first in a series of events that J Robert Scott is hosting for leadership within the Asset Management industry involving CEOs, CIOs, COOs and HR Directors.

For further information or to discuss some of these issues in greater detail please call Navin Raina, Managing Director, on +44 (0)20 7618 6271.