Ideas on how 2021 plans could look?
13 replies (most recent on top)
Transition plans in the works to shrink realty occupancy, company to take up residency at Trinity Cemetery rejoining with the founder of the bank. History in the making.
AI is an oxymoron or misnomer at BNYM. There is no intelligence at the top, only artificial. They can't get their own shop in order (data back-up. redundancy and failover is akin to carbon copy paper era; dismal for a bank of its size and global presence). But for a mutiny, we would still be on Lotus Notes because it was cheaper and easier to give life support to and pay IBM millions to program a customized upgrade so it worked "like" Microsoft Office. The only reason they are finally migrating these old apps off Lotus and legacy system is because there is no support and no way to keep them alive anymore. Is that a way to run a G-SIB? and where were the Feds in all of this? No one was allowed to publicly censure because of safety and soundness concerns. I am surprised there weren't more hiccups like the one with Sunguard
They are complaining about the overtime that happened in March and it’s been a topic of discussion to the point where it seems like they are regretting no layoff 2020.
I’ve never seen a company be so horrible at implementing any kind of strategy. It’s embarrassing.
I have doubt for requirement of do the needful, can we have a clarification?
@8kfr+151K8AJw our data indicates that we should do the needful.
1/20/21 - welcome Biden, farewell Trump
1/21/21 - back to same grind of layoffs
2/15/21 - senior managers get their bonuses
2/16/21 - senior managers appear on fox news about how wonderful capitalism is
Hey, Data and Analytic Solutions — do you have any data to analyze the solution to bad needful management on asset serv tech managment.
BNYM loves those new buzz words! AI? Seriously? Here? That is laughable! Like spit out your coffee laughable! I mean they renamed an organization Data and Analytic Solutions embedded under Asset Servicing Technology. The name sounds cool, but underlying structure, management and technology is same. All are old has been’s of bygone era’s.
The concept of artificial intelligence being implemented is ridiculous since the tech powers that be are lacking in real intelligence.
The concept of artificial intelligence running anything at an organization like BNYM is ridiculous. It's not at a reliable and effective point of implementation at companies that have their tech sh– together, let alone a D-list straggler like BNYM. It's just another money pit dreamed up by a stuffed suit in executive management for him to pad out his resume, nothing useful will come of it any time soon and certainly not in 2021.
Revenue plans? Headcount plans? Capital plans??
Folks,
Headcount cuts. It's as simple as that.
BNYM has only one lever to pull and that's cost reduction.
And the automation that will be executed is brute force, not some obscure and innovative AI. Senior leadership may present it as AI but it's not and they don't know any better.
That's simple. Significant numbers not enough at a time for media to catch. Reduced realty occupancy, and ramp up of AI and automation.