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Article: Exec pay+bonuses down, but restricted stock is on rise; Firms use those rewards to tie pay to performance.(News)
- Article from:
- Investment News
- Article date:
- April 11, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Frederick P. Gabriel Jr.
BOSTON - With regulators and investors looking over their shoulders, directors at financial services companies that manage assets are putting the clamps on salaries and bonuses.
However, they are continuing to increase the use of restricted stock to link pay more closely with performance and offset the sting of shrinking bonuses.
"We're definitely seeing a trend toward more bottom-line management,'' said Paige Scott, a partner in the Boston office of Sextant Search Partners LLC, a New York-based executive search firm that specializes in the asset management industry. "As a result, more discretionary-pay practi ...