talent Articles

Insurance Industry Trends and Outlook for 2019

Technology investments are happening at a record pace across financial services and property-casualty insurance companies are no exception. Strong financial conditions in 2018 have paved the way for an increased focus on optimizing the digital experience, which directly impacts the customer experience—a driving strategy for success in the insurance industry. When it comes to embracing change, there should be no letting off the pedal. Business leaders must continually evolve longstanding practices, using new advances in technology to fuel their journey forward.

The Spotlight: Gayle Appelbaum, Partner, Regional and Community Banking

Gayle Appelbaum is a Partner in McLagan’s regional and community banking consulting practice. She specializes in developing compensation plans that balance short and long-term risk while building shareholder value. Gayle focuses on the full spectrum of compensation and benefits issues, including corporate governance, pay-for-performance, risk assessment, taxation, regulatory compliance, M&A, and compensation agreement provisions.

Future-Proofing Your Talent

As financial services firms work on more technology initiatives, businesses must now put the transformation of their workforce at the center of their strategy. Companies are focused on exploring new ways of working through agile methodology, redesigning their organizational structures, evaluating their entire employee value proposition to improve engagement, and making strategic investments in new skills and technology to support this evolution.

The Impact of Brexit on Talent and Rewards in Germany

Banks, insurers, and other financial services institutions are in a race against the clock to clinch licenses and bolster their continental workforces before Britain leaves the EU. Without a comprehensive trade deal between the UK and EU that covers financial services, companies risk having no replacement for lost passporting rights, which currently allow firms to serve clients across the bloc.

The Spotlight: Joel Davies, Partner, European Asset Management and Banking

Joel Davies is a Partner in McLagan’s European Asset Management and Banking practice, providing reward consulting services to the management and boards of banking and asset management organizations. His particular areas of focus include reward strategy, executive compensation, and remuneration regulations. Joel has acquired extensive experience across compensation, benefits, and performance management through leadership roles in consulting and corporate environments in both the UK and U.S.

Preparing for a Tsunami of M&A in the Global Financial Services Industry

As M&A activity continues to pick up in the global financial services industry, it’s important to determine driving factors and use the checkpoints listed below to ensure a smooth transaction for both your business operations and employees.

Fighting the War for Digital Talent

What should financial services firms keep in mind as they design their employee value propositions and total reward strategies to compete for top tech talent? This article discusses the evolution of financial services in the digital age, compares the industry practices of financial services and technology, and offers food for thought when adapting your firm’s talent and rewards strategies to the new digital world.

The Spotlight: Michael Deeks, Partner, Asset Management

Michael Deeks leads McLagan’s asset management practice, delivering performance and reward consulting services to traditional and alternative asset managers, as well as asset owners. In particular, Michael advises on broad-based and executive compensation and carried interest arrangements. His work also includes conducting benchmarking and market practice studies. Michael’s team recently launched McLagan’s Operational Due Diligence IQ Study, which provides asset managers with performance benchmarks on over 150 non-investment risk factors and best practices.

The Rise of Islamic Banking

Islamic finance is the fastest growing sector in global banking and its potential for further growth is only increasing by the minute. As Islamic banks continue to expand in both their traditional market and into the West, what will be their key to success and what does this mean for longstanding global banks?

Are Performance Ratings Really a Thing of the Past?

Major companies are dropping the use of performance ratings when it comes to managing their employees. Is this the common future trend, and how are firms responding? This article takes a closer look at new performance strategies that are happening across the globe, with a specific focus on Asia and the financial services sector.

The Spotlight: Warren Rosenstein, Partner, Global Head of FinTech, Consulting Services, and Regional Head of Latin America

Warren Rosenstein has global responsibility for McLagan’s financial technology and consulting services practices and oversees the firm’s Latin America financial services business. Warren helps clients build customized reward and human capital strategies that support each firm’s unique business requirements. He has designed solutions ranging from job architecture, performance management, incentive design, salary banding, compensation philosophy, staffing models, and productivity optimization.

Infographic: Is Your Audit Function Keeping Pace with the Market?

In this infographic, we walk through recent trends for the audit function in universal banks and discuss how to measure and interrogate your audit function performance data.

The Spotlight: Mark Miles, Partner, European Wealth Management

Mark Miles is the head of wealth management in Europe. He leads the development and delivery
of market leading business improvement consulting, leveraging the firm’s proprietary data
and unrivalled insight of client experience, pay & productivity, and talent from its Scorpio and
McLagan wealth consulting businesses.

Staying Ahead of the Curve: Tech Convergence in Financial Services Q&A

How are financial services firms responding to the changing digital landscape? This article answers some of your most pressing questions as they relate to tech convergence, and how firms are adapting to an ever-changing business environment.

Will Your Job Exist in 10 Years?

Technology and artificial intelligence (AI) are transforming the workplace as we know it. New skills and competencies are emerging, as jobs continue to evolve, forcing employees to ask themselves—will my job exist 10 years down the road? This article explores the future of work and how firms are preparing their talent for this new, tech-driven world.

The Spotlight: Patrick Connell, Partner, Global Head of Banks

Patrick Connell leads McLagan’s global banking consulting practice, specializing in providing
performance and reward guidance to a wide range of financial services clients. His areas of
expertise include advising clients on pay, productivity, staffing, and expense control issues,
designing compensation programs to support client business objectives, and managing
comprehensive compensation and benefits reviews. Patrick joined McLagan in 1996 and has led
engagements for major U.S. and foreign institutions including banks, capital markets institutions,
financial advisory consulting firms, and government sponsored enterprises.

Reimaging Rewards: How to Compete for Today’s In-Demand Digital Workforce – and Win

Industries across the board are being reimagined and reshaped by digital convergence. Creating a total employee experience that attracts, motivates, and rewards key players in a fast-moving, digital environment will require a holistic approach to designing compensation and rewards programs. This white paper provides a step-by-step approach that allows organizations to identify, attract, and retain the talent they need not only today, but also as they plan for future workforce needs.

Using Job Architecture to Enable Digital Transformation

Companies across all industries need a job system that supports a changing workforce. This white paper discusses how digital transformation is altering job architecture and provides tactics for revamping your architecture to meet new demands.

Human Capital Strategies in Financial Services: Time to Look Beyond Compensation?

Explore key findings and critical new age insights from our recently conducted Talent Pulse Study—a broad overview of talent management practices at financial services firms across India.

The Spotlight: Anthony Poole, Partner, European Asset Management

Anthony Poole leads McLagan’s European asset management practice and is based in London. Since joining the firm in 2006, Anthony has been responsible for providing performance and rewards consulting services to investment management organizations. His work includes compensation plan design and analytics across all asset management business functions, as well as regulatory assessment..

Employee Rewards Q&A: What Firms Should Know Going Into Year-End

McLagan’s Employee Rewards Team recently hosted a webinar to highlight key topics that are trending in compensation within the financial services sector and provide actionable steps for firms to take as we head into year-end. This article tackles some of the most pressing questions we received and offers helpful advice for how to analyze, design, and administer pay programs that are aligned with your business goals.

The Spotlight: Belinda Armenta, Partner, APAC Asset Management

Belinda Armenta is responsible for McLagan’s Asia Pacific asset management practice and is based in Hong Kong. Belinda’s current role for the APAC region is focused on advising a wide spectrum of firms in the sector, including both local and international firms, traditional asset management firms, as well as alternative asset management firms such as hedge funds, real estate, and private equity businesses. Her work centers on incentive plan design, compensation structure reviews, pay analyses, and market trend papers and studies.

How Prepared is Your Strategy for Winning FinTech Talent in Mainland China?

In response to the disruptive impact of digital technology across the entire industry, a growing number of financial services firms are making investments to enable technology transformation in order to stay ahead in the market. Consequently, FinTech talent is in high demand, which has led to a severe talent shortage in Mainland China. Finding ways to attract and retain FinTech professionals in this fiercely competitive environment is top of mind. In this article, we explore findings from a recent McLagan survey on FinTech talent management in China, helping firms to better understand market trends and prepare for future change.

The Spotlight: Liz Snyder, Associate Partner, Insurance & Rewards

Liz Snyder is an associate partner and part of McLagan’s global insurance and rewards teams, leading compensation design engagements across all industry segments to help clients build customized rewards and human capital strategies that support their unique business requirements.

To Proactively Manage Pay Equity, Companies Must Take These Three Steps

To proactively address pay equity issues, firms across industries must move beyond treating it as a one-time audit exercise and instead manage risks on an ongoing basis.

Financial Services: Looking Forward to 2020

Putting 2019 into perspective and anticipating what’s to come with insights from some of this year’s top performing articles.
 

The Spotlight: Karl Mischenko, Associate Partner, Financial Technology

Karl Mischenko heads McLagan’s global financial technology practice, providing clients with compensation benchmarking and human capital advisory solutions. He serves as the global relationship manager for many of the leading FinTech providers and assists clients across a full range of pay-related advisory services and products. Karl also supports the firm’s banking sectors, focusing primarily on infrastructure support areas including information technology.

The Spotlight: Katrina Gerenz, Associate Partner, Regional and Community Banking

Katrina Gerenz is an associate partner within McLagan’s banking consulting practice, serving as an advisor to boards of directors and executives on director, executive, and staff compensation. With over 20 years of experience, Katrina designs compensation programs that reflect each client’s strategic objectives, pay philosophy, and culture. She partners with banks and credit unions to provide insights on industry trends and advises firms on incentive design, proxy disclosure, as well as regulatory compliance and risk assessment.

The Spotlight: Adithi Jagannathan, Associate Partner, European Consumer, Commercial & Corporate Banking

Adithi Jagannathan focuses on corporate and commercial banking within the UK and Europe. She advises clients on compensation-related topics, pay banding, variable pay, and incentives. She also assists firms with their rewards strategies and manages relationships with key global banks in the UK, as well as international banks with presence in the UK and Europe. Previously, Adithi worked on the banking and capital markets team in India for seven years, managing the McLagan rewards surveys and advising clients on rewards across sectors, including investment banking, private equity, corporate banking, and commercial banking.

The Spotlight: Sharon Leung, Associate Partner, APAC Banks

Sharon Leung focuses on McLagan’s Infrastructure practice for the Asia Pacific region and is based in Hong Kong. She advises financial services companies on salary structure design, incentive funding, short-term and long-term incentive plan review, and total rewards strategy.

 

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