Our predictions on wage inflation in the C Suite of the asset management and wealth management business are quite separate and distinct from the broader inflation in the market, including both products and services, and wages. The executive ranks of the asset and wealth management business will continue to experience wage inflation for reasons that include record investment business valuations, retention of key personnel during a period of business growth, and the pressures to complete recruiting work that surged during the second half of 2021. Bloomberg’s Joe Weisenthal does an excellent job in this commentary breaking out the meaningful features of inflation we are all observing.
