Washington Examines Compensation For Top GM Investment Managers

August 14, 2009. G.M.'s little known investment management division whose employees include some of G.M.'s most highly-compensated, will be a key focus of the Treasury Department's new Special Master's review of G.M.'s pay plans, according to an August 14th article in The New York Times. Promark Global Advisors, formerly General Motors Asset Management, oversees $102 billion of pension money for G.M. and its affiliates, as well as $18 billion on behalf of other institutions. Alan Levine, a partner in Morrison Cohen's Executive Compensation and Employee Benefits practice, quoted in the article and referring to the federal official responsible for reviewing compensation paid to top executives of companies receiving substantial federal aid, said "[t]he pay czar will look at these financial people inside G.M. very similar to those people at the banks. But he's got to understand that the company needs to remain competitive and retain talent." The full article, headlined "G.M.'s Unit for Investing to Attract Pay Scrutiny" can be found at http://www.nytimes.com/2009/08/14/business/14pay.html?_r=1&ref=business.