Our CEO in Geneva talking about the future of banking while whatever rubble remaining of his firm smolders. This has been a speed run to being a bottom tier Wall Street firm. A legacy destroyed in a few years.
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May the farce be with you.
Stock price though....
@ar+1jwzza9cr
I am hoping the DTCC takes this place over or merges with it where DTCC is the managing and owning Leadership. No other bank or investment management firm wants to take on the custodial pile of assets under BNY management and the vast pool of global assets in custody for which it is paid slices of pennies to safekeep. The business line is moribund, 100% risk, not insured, not backed and no one wants it. Nearly 70% of the bank’s operating income comes from fiduciary activities and data safeguarding. BORING!!!!! This place is like a lesser effective Clorox bleach company now. Steady and utilitarian but never exciting. Even if other banks do want this place, the Fed and regulators would very likely disallow it. The decisions, failed product lines and Tom Foolery that this nutburger RV team has put forward over the last 3 years is mindboggling. We just aren’t growing this place. We are cannibalizing it for balance sheet stock price ‘calories’. Investors are catching on too. If you feel this place will get merge consumed, then the stock will get one final big heave and then the nightmare ends. It can almost be no other choice at this point. Which also adds to all the proof we have a very dishonest and unethical leadership. This place can also still fail in the meantime. We have Robin Nero fiddling away here folks. It will still be BNY but in name only.
Makes you wonder if this is all a planned dismantling of this institution for other to step in and absorb any worthwhile assets that are left (buying them at a discount of course!) Sure, looks and feels that way to me!
If Hamilton could see this lazy sloppy Brit running the firm he would reanimate
Why do you think they stepped up the propaganda around the bank age and founding? Because they have literally nothing to point to for their own accomplishments and goodwill, only using the historical brand credibility to line their own pockets.