Fear tactics, low morale, revolving door, broken trust... All of which BNY leadership has hit, and then some. We need a completely new leadership if things are ever going to improve.
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Bny jc building is failing infrastructure building what id--ts want to put 200.000 dollar coffee bar in cafeteria with dirty carpets dirty tables dirty ceiling tiles mice and rat po-p in ceiling I would fire these id--ts invest the money elsewhere you mo--ns just keep putting lipstick on pig
If BNY wishes to improve its culture, the first thing to do is to give big raises to compensate the staff for 2% or less raises the past few years and to be known as one of the best paying banks, which may begin to attract non-MD talent from other banks. It's not going to happen, so BNY's reputation as a place to work will continue to suffer.
It’s never going back to the old ways.
@a1 it is already over. This company is dying now. They are actively and secretly looking for a victim. The whole Northern Trust thing was more than a rumor. They have to do this. Because this broken and hideous management is out of ideas except for firing people and skrooing them out of benefits. However, a big problem looms. We are a utility service that is called a bank. We as a custodian service are not attractive to other investment banks and Uncle Sam is really our biggest partner. All of the tomfoolery with digital assets is just a fake decoration. And as for wealth management, if you were a high net worth entity, would you let BNY manage your wealth and while paying their exorbitant fees for sub optimal returns and error prone service??? The Fed is unlikely to give pirate deal making firms such as Goldman Sachs the keys to the US clearing system by allowing them to acquire BK. Along with the Depository Trust and Clearing Corp (DTCC), BK is the center of the US financial system. And BK is not a great fit for GS or anybody else – other than Uncle Sam. The DTCC could be a possibility though. We are just a big ugly depositary custodian. Once upon a time, we were happy retail bankers with credit cards, loans and a premier BDS. But one night we were sold to JPMorgan (JPM) in a swap of retail assets by BKNY for the clearing and custodian businesses Jamie Dimon discarded. BK is now an amalgam of utility businesses that more astute organizations have long since shed and abandoned. The private banking was a nice money maker and was hands on. It too, went extinct. We are now really a one dimensional model now. And when you peel away the fake onion skin. And firing people with a soft coup of hidden GS leadership is unsustainable. One way or another, this place is getting merged , sold, parted out or a combination of all of these. Smaller Fintechs are actually less risk than BNY now. No way BNY makes it to 250 years as it stands.
If you’re a bny shareholder, you need to vote no confidence to this board and ceo. Bny will not survive if this continues.