After the announcement of the State Street’s BBH acquisition, I wonder if our leadership should've thought more about inorganic growth?
Opinions of some close colleagues are divided on whether Mellon should currently add scale to bank through inorganic growth.
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Who cares? Do you know the only "growth" I really give a damn about? My salary. I'm enormously interested to see what kind of "organic" salary bump is dished out in 1st quarter of 2022. Can only speak for myself, but if it doesn't approach what should be a fair increase then I'll be happy to say Seeya to BNY and go grow somewhere else.
Organic growth is a command to get out and sell now. Inorganic growth is far more difficult as it entails creation of a strategy.
And the same goes for the JPM swap a few years before Melon.
How much did we save from synergies since we bought Melon more than a decade ago? SS will be no different by the time you factor in what they spent on BBH, what they will spend on regulatory hurdles and what they will spend on merging the systems, there is little money to be made even 15 years from now.
Better question is does our leadership think about anything except how much money they have and when they can retire?