In investment management, Corporate Affairs has never been more critical - or more challenged. Directors are balancing complex stakeholder demands, integrated marketing structures, and the tension between global reach and local nuance, often with far smaller budgets than their marketing peers.
We analysed the UK’s largest asset managers, including Franklin Templeton, to reveal how the most effective teams are structured, resourced and focused. Budgets are shaped not just by assets under management (the total value of client investments) but also by whether the firm is an active or passive investor. Active managers often require more intensive media engagement, thought leadership and content creation, while passive managers tend to operate with smaller, brand-focused teams.
The true measure of resourcing power comes from combining in-house budget, agency spend, assets under management and investment style. Yet cost pressures are prompting a new trend: role downgrading, where senior leaders are replaced with lower-level hires, a move that saves money but risks eroding strategic influence.
We share six key insights from our research, with practical takeaways for Corporate Affairs leaders.
One of the most striking findings is how often Corporate Affairs sits within retail sales and marketing, rather than reporting directly to the CEO. At some leading firms, the comms function operates alongside product and distribution teams inside a broader commercial division.
Why it matters:
When Corporate Affairs is embedded in a commercial function, it can mean faster alignment with product strategy - but it can also dilute influence on corporate-level reputation management. Combine that with smaller budgets than marketing, and the risk is clear: communications becomes a cost centre to be contained, rather than a strategic driver of value.
Ask yourself:
Industry consolidation and cross-regional structures are now the norm. Senior roles increasingly come with multi-market mandates, and communications leaders are expected to operate seamlessly across regions in a matrixed model.
Why it matters:
This integration demands leaders who balance local cultural considerations with a unified global narrative. For Corporate Affairs, it often means a shift from local autonomy to coordinated, cross-border collaboration without losing speed. And when resources are spread thinly, Directors must be deliberate about where budget and effort are deployed for maximum reputational return.
Ask yourself:
Across the largest firms, specialist expertise sits alongside generalist capability. Teams blend PR, media relations, public policy, issues management, product storytelling, internal communications and digital content, with many individuals carrying both product and regional responsibilities.
Why it matters:
This reflects a wider shift towards hybrid skill sets. For Directors with limited budgets, multi-skilled team members can be the difference between delivering a fully integrated comms strategy and only covering the basics. Increasingly, this includes the ability to produce and adapt content for multiple channels, not just pitch it to the press.
Ask yourself:
Many leading asset managers supplement in-house capability with specialist agencies for media, thought leadership, crisis support, public affairs, design and content operations. Done well, this provides variable capacity and targeted expertise without permanent headcount.
Why it matters:
With PR budgets often smaller than marketing budgets, agencies can be a cost-effective way to scale up for campaigns or manage specialist tasks, but only if the work delivers clear, reportable ROI. Without that, external spend becomes an easy target for cuts.
Ask yourself:
Consolidation, regulatory change and market volatility mean Corporate Affairs teams must be structured for flexibility. In acquisitive, fast-moving environments, roles evolve quickly and priorities change, sometimes overnight.
Why it matters:
For Directors operating on lean budgets, agility is not just about speed - it’s about prioritisation. The ability to quickly reallocate people, funds and focus to the most critical issues can mean the difference between maintaining reputation and losing ground. Role downgrading makes this even harder, as fewer senior leaders mean less capacity for strategic thinking during rapid change.
Ask yourself:
Perhaps the most transformational shift is the move from media-reliant communications to content-led storytelling. The biggest firms are creating and publishing their own content, from blogs and podcasts to videos and interactive reports, to engage stakeholders directly, bypassing traditional gatekeepers.
Why it matters:
Directors are increasingly being asked for teams with strong social and digital skills alongside brilliant media relations abilities. Owned content allows Corporate Affairs to set the agenda, reach niche audiences, and measure impact in ways media coverage cannot. But it requires new skills: digital production, platform strategy, analytics, and the ability to adapt one story for multiple channels.
Ask yourself:
If you lead a Corporate Affairs function in investment management, these trends aren’t just ‘nice to know’. They should inform how you assess your current structure, where you invest in skills, and - critically - how you articulate your value to the business when competing for budget.
Three actions to consider now:
The Corporate Affairs function in asset management is under more pressure and more scrutiny than ever. Smaller budgets than marketing, assets-under-management and investment-style-driven expectations, and the trend towards role downgrading mean Directors must not only deliver results but prove those results continuously. Content-led storytelling offers a way to own the narrative, maximise reach, and make a smaller budget work harder - but only if your team has the skills and agility to execute it.
By learning from how the largest players organise, integrate and operate, you can make sharper choices about how to lead your team through the next cycle.
If you’d value a tailored benchmarking discussion - including role design, operating models and talent strategies specific to investment management - we’d be delighted to share more of our research.
For a free download of our full Annual Salary Guide 2025, click here.
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The Works Search: a search consultancy specialising in PR and corporate communications. We have unrivalled matching abilities and are known for finding the top 5% performers in the industry - the ones who deliver and make your reputation great. For more advice or market insights, do get in touch with us on 0207 903 9291 or email: sarah@the-works.co.uk.
