Thread regarding Bank of New York Mellon Corp. layoffs

Gibbons as interim CEO is perhaps the best thing to happen to BNYM

As one of the oldest CFO's on the street and a BNY Mellon veteran, it is my thoughts that Gibbons is perhaps one of the best things to happen to BNYM in a long long time.

Are things going to change? Probably, probably not.

BNY Mellon has been set on an irreversible path of change. The layoffs, the downsizing, the bitterness that ex-employees have is something that Gibbons will not be able to rewind. What is done is done.

However, I do believe that he might bring back a bit of the culture that made BNY Mellon home.

Now as interim CEO, he's probably going to keep the company afloat as my thoughts are that he is going to retire soon, but until then, I think BNYM and its survivors should welcome one of its own to the helm.

I'm very optimistic about what's to come, I hope you all are too.

It's going to be a bumpy road, but you got a friendly face holding your hand along the way.

by Anonymous
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Post ID: @OP+11ftz6Oe
Comment! It's anonymous!

7 replies (most recent on top)

I agree. TG was the obvious best move for the bank. I'm wondering if the only reason he didn't get the job in the first place was because he was the CFO, but now with running markets and clearing + a lot more client exposure, he will be able to take the job, not just as interim.

by Anonymous
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Post ID: @3alz+11ftz6Oe

Urk should be next. What a mess.

by Anonymous
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Post ID: @1fcz+11ftz6Oe

Experience should not be taken lightly and discounted as it has in the recent years. It is very valuable. Having survive the craziness, I am hoping Todd as interim ceo has the business and people experience to help the bank. Also, the decency to respect those long time employees that have sacrifice so much to help the bank. Yes they are older but not valueless. Yes the younger generation of employees are stronger in technology because they grew up with it but they lack the business knowledge. It's important to balance all generations so we can all win.

by Anonymous
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Post ID: @1ens+11ftz6Oe

I imagine he will just keep the lights on and won’t rock the boat until a new CEO is named. The real question is who in their right mind would want this CEO job?

by Anonymous
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Post ID: @kdm+11ftz6Oe

Don't fool yourselves. Our industry is still in a downturn. Just keep your chin up and let's hope the moral will get better

by Anonymous
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Post ID: @dja+11ftz6Oe

Eh ... another privilege 1% Wall Street hack. I’m going to assume for now layoffs will continue. Even CS probably concluded this company was beyond saving.

by Anonymous
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Post ID: @bui+11ftz6Oe

I was fortunate enough to have shadowed under Todd, for 6 months. Some Finance Leadership course, a few years ago. Todd is an excellent choice, and he's a fair leader. During the turbulent past 2 years I left, and followed with sorrow the stories of all the other great leaders who were kicked out. Always wondered how Todd managed to stay, in such a toxic environment. Kudo's for him.

by Todd fan
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Post ID: @byi+11ftz6Oe

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