Pershing departments has been going through an internal organization reshuffle and it will be interesting to see where people land who gets to stay or gets let go. One thing is Pershing has made a mistake to promote people managers without having them FINRA licensed. They have licensed folks reporting to non-licensed managers in professional client facing roles. It’s just a bad practice and these people try to find jobs elsewhere and no other financial firm will accept them without their license. It just also keeps stale, non qualified people working there for years. It causes frustration because the licensed folks know their manager doesn’t have the business knowledge. So many things need to to be addressed by senior management or they will lose good people.
7 replies (most recent on top)
sorry... Chennai is still the future
Hope Pershing sinks, is sold and goes out of business. This was a good company to work for a very long time ago. Love the way they treat the long time loyal hard working employees who age out according to upper management. Sh---y company that deserves nothing but the worse.
Robinhood is eating your lunch...no changes the way are happening now at pershing is because your pershing is fat and happy...they are reading it for sale and we will buy you out...every TIME you read a new company offers trading accounts...wait till Amazon and FB get into the game, pershing dies a little more...the small brokers will die or merge the big ones will want better service...overall margins drop and revenue down...fintech just took a break because money went into zoom and online shopping...once this goes away fintech will be back with a vengeance...this is the peak of finance fat margins as disintermediation will be the storm like only Lake Mary has seen...so just come on over already...own your tomorrow
Who cares about licenses ? I’m concerned about an incompetent EC with no vision, too busy sitting around counting their money and how many days until they retire. And created based upon nepotism and not talent.
Chennai is the future.
Pershing talent is above BNY average / overall IMO.
AFAIK executive management is encouraging all management to get the needed license, the ones that didn't get the needed license didnt get promoted, i havent seen it the other way around.
The concept of "good people" and "hard workers" are going the way of the dinosaur. It's mostly about costs at this point. They'd rather train someone and start over than keep their talent. Unfortunately Pershing (and many other firms) don't have a long sighted goal.