BOSTON, Oct 23 (Reuters) - Janus Capital Group Chief Financial Officer Jennifer McPeek said on Thursday that the company's ratio of compensation to revenue could rise to around 45 percent if newly hired bond fund manager Bill Gross attracts a large flow of new assets.
Speaking on a conference call with investors after the company's earnings were released, McPeek said the ratio could rise to "the mid-forties" from the roughly 40 percent figure where it stands today, if Gross succeeds in attracting much new money and drives up sales commissions expenses.
Gross will be paid under the company's regular arrangements for fund managers, she said. Janus, best known for its equity funds, hired the well-known Gross from Pimco at the end of September.
Janus Chief Executive Dick Weil said on the call that the hiring puts many bond assets into a period of "potential transition," and said the company plans to invest as needed to support Gross. "We won't 'Cheap Charlie' it," Weil said.
(Reporting by Ross Kerber; Editing by Chizu Nomiyama)