Manning & Napier Cuts Costs as It Prepares for Acquisition

Manning & Napier took a cleaver to its operating expenses, cutting them by nearly 25% during the three-month period ended June 30, to $26.7 million, as the firm prepares to take itself private. Firms often link asset flows as a benchmark for setting compensation costs by quarter, said Craig Kilgallen, a director of relationship development at FUSE Research.

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Article published on August 10, 2022