Big rush to half as* rush to announce the formation of this group. All due to the new P-M. 🙄
Man the consultant got one over on our EC
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@5hva,
According to https://ofdollarsanddata.com/sp500-calculator/ if you invested 1 dollar in the S&P the January Biden took office we're looking at a piddly:
Inflation-Adjusted Price Return: 12.58%
Annualized: 3.72%
Investment Grew To: $1.13
Inflation-Adjusted Total Return (with dividends reinvested): 18.09%
Annualized: 5.25%
Investment Grew To: $1.18
Thems sits on their butts.
@5hva, election years are bull markets? Seems to me, excluding the last presidential election, they are bear markets driven by new candidates slamming how bad the economy is under the incumbent.
The market has essentially been flatlining for four years and counting. Shares are definitely not trending up. Personally I’m only holding equities because election years are historically bull markets.
Anyone in the S&P 500 or the Vanguard total market over the past 4 years has definitely seen a 20%+ loss.
It’s a combination of earnings, the overall market and a lack of strategy and competence in rolling out new products. This is true of all Custody Banks. A few mergers in custody could definitely bring some economies of scale. The organic growth PowerPoint surfaces every four years but they have no strategy to drive it (hint, hire good salespeople on commission).
Think about a merger of BNYM, Northern Trust and State Street. Now that is exciting
Why r we surpriseddd?
Wasn’t there a transformation group that was disbanded two years ago? Parking this group under finance means there will be no meaningful Transformation. Finance can’t even get budget and actual numbers right!
It’s not a truly doomed initiative with incompetents appointed to positions of “leadership” until Vatel makes an appearance. Talk about a diversity play at the expense of actual competence. Guy is an incompetent bo-b. Couldn’t even run a relationship team in the asset servicing biz. Was sent back to number-crunching in credit where he can inflict less damage. watch that space.
@1yec what are you talking about "EC has no influence over "our" stock price"? They make the decisions of what to keep what to cut and how much to cut - to make it really really simple for you to understand. Stop smoking crak before you post here!
Only at this bank do we rush to announce an org change while someone goes on vacation.
Terrible management
The transformation team sits under Finance. Helene knew how to get things done. I have never seen agile advanced so quickly over the last ten years.
Where does this transformation team sits ?
Layers over layers of managing directors to lead the transformation office, talk about being agile and lean.
There is always something brewing, one thing or another every week. They announced this change while Helene was on vacation. Mind you, she was heading this initiative, and now has been plucked out of the picture altogether. They were able to pick up some good leaders to lead certain teams and then they hand picked some of the most incompetent people to run some of the very high visibility teams. Look at D Lake, at best an academic intellectual who is only interested in “recommending best practices” and has no real experience or plan in play to create any kind of governance. Then we have GP, A self centric person with over inflated sense of self worth, who has been handed a large team of personnel to lead. Majority of his team is either on the same grade or has more experience than him.
Changes will come continue to come, one can always hope some of those are positive
@OP…. Post is gibberish try again.
Shares are flatlining. There is no growth. EC has no control over stock price… do you not understand that the EC has no influence on our stock price?
Shares are trending up...if there was ever a time to sell the EC on making them go highrer is now. Just about anystory will fly. More like this to come into the summer.