Office Policy Resentment
Welcome to FundFire's weekly News Brief, a roundup of a few top stories from the past week.
Asset management industry workers expressed simmering discontent about their companies tightening up return-to-office requirements. Twenty-nine percent of surveyed industry workers said they were somewhat or very likely to leave their job due to increased in-office requirements, according to a recent study from FundFire affiliate, Ignites Research. Read more from Melat Kassa.
Office attendance policies weren't the only things ruffling feathers in corners of the asset management industry last week.
A Macquarie affiliate agreed to cough up nearly $80 million to settle regulatory charges involving overvaluing collateralized mortgage obligations in some of its funds and accounts, and engaging in unlawful cross trading, FundFire's Sam Heller reported.
In other news, State Street commissioned a report on the company's historical ties to slavery, though didn't release the findings broadly. Heller has the story here.
Chart of the Week
Most asset management industry firms have increased the number of days employees must spend in the office this year, a recent study from Ignites Research found.
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