Distressed Managers Lead The Pack

Total compensation for U.S. fixed-income investors rose by more than 10% last year, with distressed investors leading the pack, as low interest rates and improving corporate fundamentals fueled significant spread tightening.

  • 27 Aug 2004
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Total compensation for U.S. fixed-income investors rose by more than 10% last year, with distressed investors leading the pack, as low interest rates and improving corporate fundamentals fueled significant spread tightening. Investors' average salaries increased by around 5% to nearly $160,000, and bonuses increased by more than 15% to about $195,000, according to a recent report from Greenwich Associates. Distressed managers raked in a little more than $1 million, up from $694,000 in 2002.

Fixed-income portfolio managers made an average of $374,000 last year, up from $326,000 the previous year, while hedge fund professionals saw their pay increase to $749,000 from $597,000. The data was compiled during the first half of this year when the Greenwich, Conn.-based consulting firm polled nearly 1,500 institutional investors from banks, insurance companies, hedge funds and mutual funds.

Distressed hedge fund investors were the big breadwinners, earning nearly $1.25 million, up from $786,000 in 2002. Elsewhere, below investment-grade credit managers were paid $695,000, up from $516,000.

The low rollers include mortgage-backed managers, who made an average of $257,000 in 2003 and $241,000 in 2002; asset-backed portfolio-managers, whose compensation rose to $292,000 from $268,000; commercial mortgage-backed securities portfolio managers, who took home $358,000 compared to $344,000. Investment-grade portfolio managers, meanwhile, cashed in on $325,000 in 2003 and $262,000 the previous year.

  • 27 Aug 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 25,935.16 104 7.16%
2 Deutsche Bank 25,125.19 81 6.94%
3 Bank of America Merrill Lynch 22,023.57 59 6.08%
4 BNP Paribas 19,315.94 110 5.34%
5 Credit Agricole CIB 18,706.93 106 5.17%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%