McLagan is the leading Performance / Reward consulting and benchmarking firm for the financial services industry.
At McLagan, we help our clients make better decisions by applying market pay and performance information to their business problems.
As banks begin to make their year-end pay decisions, it is clear that incentive pay for employees across investment banking, equities and fixed income will decrease at most firms, particularly the largest ones.
The UK Treasury is consulting on proposed regulations to require larger banks to publish anonymous remuneration details for each of the top eight UK-based executives below the board “to enhance the transparency of the relationship between risk and reward for the highest paid senior executives in the largest banking institutions.”
In spite of a modest cooling off of the economy, Brazil continues to be a location of strategic importance for financial services. For the first time last June, investors viewed Brazilian debt as less risky than highly-rated U.S. debt, which, according to Brazil’s Finance Minister Guido Mantega, is a reflection of the country’s economic resilience and soundness.
Aon Corporation (NYSE: AON) today announced it has acquired Westfield Financial Corporation and its subsidiary, the Ward Financial Group, from Ohio Farmers Insurance Company. Ward will be integrated with Aon’s McLagan Partners, an Aon Hewitt company and a premier performance/reward consulting and benchmarking firm for the financial services industry.
McLagan has recently named Michael Burke as President, with Brian Dunn moving into the role of Chairman. Mr. Dunn will continue to serve as CEO for the broader Global Compensation practice of Aon Hewitt.
A global investment bank came to McLagan seeking counsel regarding its salary practices. The bank lacked a formal salary structure and standardized job grades or job descriptions.
A large Financial Accounting firm came to McLagan seeking advice on its current level structure within its Information Technology group.
