Isn't it funny how most Senior management replacements seem to be coming from Goldman Sachs..
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@3rhf - It's no longer an accident waiting to happen. More like just waiting for the first responders to arrive at the scene. We should be on the news any day now.
As a shareholder I do not want to see massive senior turnover as the cost of replacement with former GS staff is negative operating leverage. Unless of course you replace with college grads. BNY operating model is so different from GS where you are looking for masters of the universe as rainmakers. BNY makes widgets and does not need GS priced talent. It will also be interesting to see how the loss of BNY experienced folks and replaced by college kids works out. Accident waiting to happen perhaps?
Keating
Which EC member would you most like to see get canned next?
GS is where all the goons are and bring their shi*tty culture here. Look at the face of the bank today.. it’s an absolute disgrace, never mind the stk price.. what goes up will come down.
Goldman is not going to buy BK. Not now, not ever. It’s been a rumor for at least 20 years, but nothing ever happens. We get the cast-offs from GS - those that just aren’t smart enough, successful enough to make it to the top over there. RV is a case in point. D-mb as a stump, sociopathic and nothing but an empty shell. He maxed out at GS, as did just about every hire BK made from GS. The Goldman refugees didn’t cut it in the big leagues, so they join their cronies at BK to pretend they are capable adults. Delusional bunch of losers!!! Same goes to anyone hired by Charlie Schart during his reign of te---r.
Overpaid & overcrowded at the top; the gap keeps growing….
More like Senthil got let go
Why would Goldman buy us? They send their leaders to BNY where they can enjoy garden leave while others support their bloated salaries.
It’s inevitable Goldman buys this company.
It's a shame that all the people "at the top" who are bullies and don't know what they are doing don't leave... I can think of a number of other folks who I would love to see follow him out the door and the place would be so much better off.
My friend…they had enough of Sethil. I met with Senthil right when he joined BNY and quickly discovered that he knew NOTHING about risk management - he was incredibly arrogant and a bully because he realized how unqualified and in over his head he was. Senthil came from a career at Citi which is an organization plagued with issues in Risk Management, with broken methodologies he brought to BNY, along with a bunch of d-mb people. This is a great move, years in the making. Farewell and bravo BNY for showing him the door.
His only purpose was to facilitate the transfer of a large portion of RC operations to India. Job well done!
There is too much so called ‘senior management’. There are people here who are simply paid $300k and above with bonuses to make noise and draw pretty pictures. This company should transition itself from a custody bank to a prosthetic reproductive organ device store.
The man striked me as being a bit of a diva when visiting our office not so long ago.
I’m sorry I don’t care if this person has had enough or any less. Another example of how one bloats one’s remit to increase team size (aka personal bonus). Do you know the ten fold increase in committees this person has introduced ALL pretty much doing the same thing in the garb of different TLAs mostly ending with a C for committee. Each committee has 4-5 ppl who generate a tailor made excel sheet 2-3 times a year to peddle their jobs as important. Again same sh---y risks that plays cahoots with controls who remediates using one artefact. While cautionary risk is great, we are not a RISK institution or a RISK policing institution. At this rate Senty” will have a team rivaling Ops!