https://www.reuters.com/business/finance/bank-new-york-mellon-approached-northern-trust-discuss-potential-merger-wsj-2025-06-22/
23 replies (most recent on top)
Oh no mergersisters, not like this!
https://www.investmentnews.com/independent-broker-dealers/northern-trust-vows-continued-independence-after-bny-report/261025
It's so over.
It shocks me how all you lazy people blame the management. All the PGH people act like they still work at the mill; stroll in at 9, coffee at 10, gossip all day and then slide down the back of the dinosaur at 5 when the whistle blows. The company would have been best served by completely closing the PGH locations and shedding all the legacy Mellon parasites.
@eh I'll see it when I believe it.
You must not have been around for the BNY Mellon merger. They also denied a merger was in the works when a source leaked it to the media. And here we are.
Contrarians in panic mode. Happening adverted:
https://www.tipranks.com/news/the-fly/northern-trust-tells-reuters-fully-committed-to-remaining-independent-thefly?mod=mw_quote_news
Go on with your lives and stop panicking.
Nothing. Ever. Happens.
https://www.reuters.com/business/finance/bank-new-york-mellon-approached-northern-trust-discuss-potential-merger-wsj-2025-06-22/
@dt Remember in 2023 when they did that awful rebranding to make the company look more "urban" by adding paint and graffiti-inspired elements to our branding? It was extremely unpopular, and then one year later they threw it all out the window for the BNY minus Mellon overhaul.
I'm excited for another rebranding!
The market sure doesn't seem to like the idea.
Think of the poor people who left this dump for a position with NT…only to find out that they are going to be BNY again. Bet NT has a lot of people jumping ship in the coming months.
Pretty clear that this has been R-V and friends plan all along. Put on a B.S. PR campaign like everything is great, artificially pump the stock and hope to merg/be acquired. For the cherry on top, a massive golden reward for all at the top of the pyramid as they exit the company. This is no different than a VC firm that will bankrupt and ruin lives so they can make a fortune divided by a short few. Make sure to be cli3nt 0bsessed and enjoy the free c0ffee. Absolute joke of leadership. Once a cr00k always a cr00k.
Give it up BNY! Everything you folks touch, turns to cr-p! (Think Mellon Bank and Dreyfus Funds!) Focus on your own dysfunction and fire your entire Executive Committee instead!
@b1 - wise words. May the Chicago crew outmanoeuvre the New York crew in this case. Their clients will thank them for it, while Hamilton continues to spin in his grave looking at what Vince and his goons have done.
It’s a sign that BNY is in trouble and knows it. BNY’s business footprint is shrinking not growing. BNY’s valued intelligentsia has been getting chainsawed, not growing. Income is driven by cuts not growth. This is an instant attempt to add back and expand private banking and IM services as a turnkey service. All this after BNY decimated and / or shed the same business lines. NT would be well advised to steer clear of Robin and his hollowed out zombie bank held up by offshore pillars and AI fantasy. It’s also an early indicator digital assets has been a complete failure.
We had a lot of front office folks move to NT over the last three years. But these mergers tend to cost more than they’re worth. Remember how much was wasted when the deal fell through between State Street and BBh?
@aj Or maybe Northern Trust Bank of Pune
I thought GS wanted a piece of BNY
And also the NT board needs to know that whatever BNY touches turns to sh-t. But they don’t care. Poor employees though.
Does Northern Trust pay better than BNY?
Who is the McKinsey junior who suggested this? Oh, that's right, it was probably a 22-year-old McKinsey guy who came from an Ivy League and has no idea how the world works.
But they'd have to change their name to South Asia Trust.
@a1 Better question is what could possibly go right? It is certain that whatever direction is taken will be hailed as bold and decisive leadership. Besides leaning more heavily on AI to create further displacement, continued cost cutting, offshoring and further growth in EC compensation, are there really any other trends or strategies that are more predictable? The layoff engine could run on for several years before ever slowi g down.
Seeing how well the BNY takeover went, what could possibly go wrong again?