IMA chief warns industry to avoid unrealistic expectations

Speaking at the IMA’s AGM dinner last night, chairman Robert Jenkins reminded the audience of the fact “it is not our money”. He says while it is too soon to call an end to the troubles of the last year, it not too early to draw a few lessons. “Compensation levels are rising in our industry. Whether this is good or bad is for shareholders and moral philosophers to address,” he says. “But if as an industry we allow, much less encourage client expectations which are likely to exceed our ability to deliver, there will be trouble. “The politics of envy have befallen both the private equity...