Hot-Desks, Cool Shoes, Big Wins
The asset management industry's push to get workers back in the office shows no signs of abating. But perceptions of in-office policies and enforcement varies between management-level workers and lower-level employees, according to a new study from Ignites Research, a sister publication of FundFire. View the findings from Melat Kassa here.
Rather than mandating more in-office days, AllianceBernstein is trying out a new tactic of requiring staffers in its New York office to hot-desk, unless they come in four days per week.
"If [employees] would commit to four days a week, they would come out of the flexible seating pool and get a dedicated seat," Chief Operating Officer Ken Sprules told FundFire's Sam Heller. "We're looking for ways to sort of bring people back on an increasingly regular basis."
In other news, outsourced chief investment officers have been winning mandates from small and mid-sized endowments opting to throw in the towel on hosting in-house investment offices, Sabiq Shahidullah reported last week.
More than half of endowments with less than $500 million in assets used an OCIO in 2023, according to a study by NACUBO and Commonfund.
Endowments with less than $1 billion often lack the resources to build a robust internal investment team, Margaret Chen, global head of the endowments and foundations practice at Cambridge Associates, told Shahidullah.
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Video of the Week
Is the dress shoe dead? Asset management industry workers weighed in. View the video through the link here or by clicking on the image below.
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