Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Two Big Asset Managers Expand Time Off Policies Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 8, 2018

Two Big Asset Managers Expand Time Off Policies

News summary by MFWire's editors

A pair of asset management titans are updating their employee benefits policies, specifically time off.

This week State Street Corporation (parent of SSgA, the original and now third-biggest ETF shop) unveiled several enhancements to its "US family support policies" for employees who have kids by surrogate, who adopt, or who go through fertility treatments. New primary caregivers to kids born via surrogacy will be offered four weeks of paid leave, new parents are eligible to be reimbursed for up to $20,000 per child in adoption expenses, and prospective parents are eligible to be reimbursed for up to $20,000 (beyond the firm's medical plan coverage) in fertility expenses like surrogacy.

The adoption expenses reimbursement is an increase from the $5,000 State Street previously offered, while the surrogacy-related leave and the fertility expenses reimbursement are both new. Kathy Horgan, chief human resources and corporate citizenship officer at State Street, put the updates into the context of "continuing what the FMLA [Family and Medical Leave Act] started" 25 years ago.

"The changes announced today are a direct reflection of employee input and our commitment to offering inclusive family support benefits," Horgan stated.

Meanwhile, last month BlackRock, the largest asset manager and largest ETF shop, started rolling out unlimited time off last month, Bloomberg reported. The publication describes the move as New York City-based Blackrock "taking a page from Silicon Valley."

"We are obviously a technology company as well as an asset management company," Jeff Smith, head of human resources at BlackRock, told Bloomberg. "When we are competing in places like Silicon Valley, that is very important. It sends a signal."

"We are not flexible about performance," Smith added. "We are flexible about time off, casual dress and some of the things that will lead to more energy and better performance." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use