The funds industry is experiencing severe pressure on fees, poor interest rates and a flooded market. Revenue is forecast to drop and this will have a magnified impact on BNY which is grossly overstaffed and is a technological failure. Investors are facing stagnation and the only viable action is to reduce footprint and consolidate the business. Expense becomes the only ingredient that the organisation can attack. Growth is not an option as the model is not generating revenue whilst expense is associated with growth. Q1 2020 will see vast change. If semi annuals 2020 do not present well, then there will be significant change at the top table. To date they have failed badly....infact they are the "BE" group that employees of BNY reference.
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Watch for changes at the top of house for this bank. They’ve failed, They know it and they don’t have a clue how to address it. Cutting expenses (primarily staff) is a very short term “fix” which they can’t continue much longer if they want to stay open for business. Watch for the CEO and CIO to make an exit with a couple of million In Their pockets in 2020.