He invested tens of millions in creating a product that clients don't want and regulators won't permit. Well done, Gru! You truly are the Greatest Showman, minus the talent, intellect and human decency.
https://www.americanbanker.com/news/new-document-highlights-conflict-over-bny-mellons-crypto-custody-business
@9rlc, we'd need hundreds of computer experts to just automate the basic deployment of our 1,000 apps and it would still take a couple years. Ever wonder why FB and Google are never down on the weekend for deployments?
There's no way a couple dozen people are going to automate much at the bank without taking decades to do it. And even then, we'd be hiring a $150k IT person to continually monitor the ai process in place a couple minimum wage operations people.
We can hire a dozen skilled software developers to automate he bank with A.I. but we blow that cash on Roman Regelman.
Nothing else here quite screams Senior management incompetence than this guy.
So one of his brainchildren gets called out as a complete failure by the regulators. Shame there isn’t the same level of scrutiny internally on his smoke and mirrors. That giant su-king nose? Gru extracting millions from the parts of asset servicing that actually matter to clients
What’s with the university of phoenix obsession Todd junior?
Generally profound statements aren’t profane and profane statements aren’t all that profound.
Allow me to guess… University of Phoenix Associates program?
Organic Growth of course…
It’s always fun making up words like D&A.
Most of ASD is unprofitable. RR frequently makes people bundle D&A on RFPs, which is also underwater. Most products are underwater because of squandering of tech resources. Something will have to give.
Negative margins… well that’s not very commercial.
How much revenue did that application bring to the firm?
@ryl+1nnFn8DW Gru is a character from the movie "Despicable Me"
Digital assets custody has negative margins. Just sayin’
Despicable
WTF is “Gru?”
Sigh… now it’s probably back to Organic Growth.
Perhaps you might be ready, but are you “Roman Ready?” Hopefully you aren’t…
Wait….custody of crypto assets was going to save us. What now?