Let’s just say the current CIO’s accomplishments in the area of automation are quite a bit closer to zero than the board is comfortable with.
30 replies (most recent on top)
I don’t believe that the CIO has any worries about accomplishments in the area of automation.
Repeat after me… “Robin, Charlie hired & saddled us with this Regelman character, left and and the guy spends like mad and produces zilch. I know that x and x at Bank of America and x and x at Goldman know their stuff and could automate the heck out of Custody Operations. Say the word, we’ll sack them, automate operations and eliminate manual processing costs.
So B.E. was B.E.?
BE is gone - along with her group of no-talent managers. Good riddance
So B.E. Is E.E.?
And just like that, we are in digital currency and the CIO is saved!
So, B.E. was B.E?
I've learned a lot about Hood from his LinkedIn posts.
Hood 'retiring' end of November
B.E.’s time is up. Which means all of her people will be gone soon.
E*trade was far ahead of Suresh back in the day. Pretty much everyone was working on the same ideas.
Exactly what I said, it was an internal tool used to teach employees how the tech works. Not an externally traded digital currency.
Maybe it is reading comprehension that needs help?
https://www.bankdirector.com/issues/bny-mellon-betting-blockchain/
Google a little more.
Google would really help some. Suresh did not create a digital currency for BNY. He developed an internally coded and used incentive system using the concept of blockchain for the IT teams to better learn how it works. It was not true blockchain, but worked as if it was.
He was also the first to create a stock trading platform (app) that could be used to conduct stock trades via a cell phone. Long before the smart phone existed. The man was a genius and did everything the company asked of him. And then GH left and Chainsaw needed to leave his mark on everything before bailing out just 20 months into his role.
@wgt Ahhh, that’s nothing. We haven’t heard a word on anything from Regelman for well over 4 years. Now that really does does raise questions. Anybody know if he’s still with the Bank?
Good grief....Management in this place couldn't possibly be any d-mber!
Suresh lost his job after chainsaw descended upon us like the summer locusts upon the crops.
Didn’t Suresh lose his job after he declared in some banking industry periodical interview that BONY has developed its own currency based upon blockchain, and then the regulators descended upon us with questions? Blockchain? More like blockhead…
Actually, Suresh created a vision of an infrastructure of the future that he aggressively sold to management, clients and the Street, but he never delivered.
But idea guy, greater talker, terrible staff leader and executor.
Suresh did what he was told to do, cobble together our legacy (mostly mainframe) applications together to make them work while spending very little money in doing so. That was how this firm did everything with our low margin business line…now we have to make major investments and money is tighter than ever things are not looking great.
Regleman gets away with spending and wasting millions yet again. Good people lost their jobs and he is still standing. Well sitting and delivering his cr-p all hands meetings that nobody wants to attend. Get rid of this stooge; we are done with him.
I question the original poster's understanding of the roles. The CIO was never involved with automation and in fact is not technical. This was Regelman’s Digital remit which the CIO fully funded and was well staffed. There have been no accomplishments after 4 years.
The CIO bears no responsibility for the failure of automation given that the CEO set up R.R.’s Digital business unit at the same level… they are peers. The digital automation group appears to be an expensive fail and we all deserve an explanation on the cost and the fail, particularly in light of layoffs of productive employees.
@irk+1iYwEWOL There is only one CIO, B.E., along with a few dozen CIO legends in their own minds, all of whom who report to B.E., the actual CIO. B.E. has done a great job in righting the ship which Suresh nearly sunk, actually managing Greenfield to success, and then reorganizing Technology and Operations into a coherent organization.
R. R., on the other hand, is a Senior Executive Vice President and Chief Executive Officer of Securities Services and Digital, so he heads a business unit. Here again, only one among a dozen+ CEOs, all of whom report ultimately to Robin Vince,the actual CEO of the bank.
Securities Services is badly archaic so the thinking was to let it get automated. The funding was allocated but the effort never started and Digital is pretty much only a memory. Surprised that this expensive team still exists after with layoffs
Are you guys talking about that chubby blonde lady or the bald guy who talks like Dracula.
Her record is 100% She's been wrong every time.
The lack of automation must be hindering our ability to conduct operations layoffs. This isn’t new. We wasted our gift from the government on moving crapplications to shiny new boxes when we could have focused on modernizing them to drive operational efficiencies and to satisfy customer needs. Circa 2000 applications on brand new hardware.
We haven’t seen many emails from BE in the past months. It does raise questions.
Our CIO has done a great job leading Greenfield and merging Technology & Operations. She’s not going anywhere unless she gets a great opportunity.
Why would we need a search for a Regalman replacement? What would there be to replace?
I have the same question. Is the search to replace Regelman or BE?
Regelman escapes again.
Wasn’t automation and digitization his remit?