Manning & Napier

Manning & Napier is an investment firm based in Fairport, New York with $20 billion in assets under management. It is traded on NYSE as MN. It has approximately 300 employees as of December 2019.[1]

The company was founded in 1970.[2]

In April 2020, the company received $6.7 million in federally backed small business loans as part of the Paycheck Protection Program. The company received scrutiny over this loan, which meant to protect small businesses and ensure they could continue to pay their employees during the COVID-19 pandemic. The New York Times noted CEO Marc O. Mayer's annual compensation was $5 million, and days after the PPP loan was announced, the company announced they would be paying a dividend to shareholders. On the following day, Manning & Napier stated they were returning the PPP funds.[3][1]

References
  1. "EX-99.1". sec.gov. Retrieved 29 April 2020.
  2. "Manning & Napier, Inc. to Report First Quarter Results; Announces March 31, 2020 Assets Under Management | Manning & Napier Inc". Manning & Napier Inc. Retrieved 29 April 2020.
  3. "Large, Troubled Companies Got Bailout Money in Small-Business Loan Program". nytimes.com. Retrieved 28 April 2020.
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