Thread regarding Bank of New York Mellon Corp. layoffs

CFO steps down !

So what's the real deal ? This pandemic made some of our EC leave . Are they all going to meet Charlie on the other side .

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Post ID: @OP+163WCyzx

16 replies (most recent on top)

In every town hall with Todd, Mike just sat in the corner sulking away. I would offer to open the door for him on his way out, but hopefully he has already left.

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Post ID: @7goq+163WCyzx

Thank you @2vjm+163WCyzx for your well articulated post. I do wonder what will happen to the raft of clones that followed Santo to BNY Mellon. I can see them figuring out how to s— up to the new CFO. So predictable and false.

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Post ID: @2zem+163WCyzx

Folks,

Having experienced Santo at both BNYM and JPMC the post by @1fvi+163WCyzx stating Santo is arrogant and angry is spot on.

From day 1 when he arrived as the CFO of Investment Services he was, for lack of a better term, a jerk.

Mike never took the time to understand why or how the culture and operations evolved to their present state so meaningful change could be executed.

Mike made sure that everyone knew he was smartest person in the room (at least in his mind) and that he had all the answers.

The kicker here is Mike, at best, could only connect the dots at the macro levels. He didn't know enough, nor did he bother to learn, how to connect the dots at the more granular levels to actually execute meaningful change.

Much like Charlie, Mike has led a charmed life in his career and never really had to work for his positions due to his connections.

Mike leaving will not change the fact that BNYM still only has one lever to pull, which is expense control and cost reduction.

Layoffs and the movement of jobs to lower cost geographic locations will continue.

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Post ID: @2vjm+163WCyzx

CS and his gang will move from company to company making things worse along the way. Then his overlord JD will swoop in and snatch everything up for cheap.

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Post ID: @2hwn+163WCyzx

The deal is to jump from One Sinking Ship to another and then the other . Upscale or downscale Visa ,leave the organisation and bring your Comrades here and then upscale or downscale BNYM and then leave and join Wells Fargo and get your Comrades to join WF .Each time you do that there would be 3 times raise to your perks and benefits .The cycle continues till you finish the book of Economics 1O1 .

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Post ID: @1iey+163WCyzx

Well, if the jungle have more Hyenas, certainly the Lion will disappear, but Hyenas will not survive long , times comes for everyone. Losing Charlie was very unfortunate for the bank.
Not many understand this cause most of them are only waiting for their paycheck doing almost nothing! Hardworking people will not survive in BNYM given to the current situation, I am saying COVID situation, the Politics.

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Post ID: @1nlu+163WCyzx

Seems like a MAJOR uptick (for BK).
He was horrible in every way.
Arrogant, angry. Did I mention arrogant.
And yes - that “sort of “drove me CRAZY.
You’re either working on it or not.

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Post ID: @1fvi+163WCyzx

bunch of id–ts in treasury services technology as well, they pretend to know what they are doing - however have no clue.

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Post ID: @1nmp+163WCyzx

I expected him to be gone soon, whether voluntarily or otherwise. He hasn't been appearing as special guest speaker the way he used to in Chainsaw's town halls. I certainly won't miss how he was always "sort of" doing things. "We're sort of working on improving our processes." Well, are you or aren't you?

The latest vocal tic that annoys me is people saying "right?" at the end of every sentence. It only takes one top manager to start doing it and by the time the next meeting rolls around, they're all doing it, right?

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Post ID: @1gru+163WCyzx

Don't be an id–t. He went with Charlie. Hopefully the CIO will be next.

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Post ID: @zqr+163WCyzx

It’s good to see that his replacement has a finance background. The CFO of BNYM Treasury Services has no finance background.

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Post ID: @lwo+163WCyzx

He's going to WF. Confirmed in the media.

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Post ID: @pgy+163WCyzx

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