Not sure why I took a job here. UGH
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There was a time, a very long time ago when it was actually a pleasure working at Pershing. As the years progressed things just got worse. I was there a very long time so I know the old and new culture. A few years before I left, I noticed how after changing hands that the culture became cut throat. When I finally did leave it got to the point that you didn't know who to trust in the firm. Many stay because they don't want to start looking for a new company to work for with the fear that things are the same industry wide. Glad I'm out of that sh-t ho-e. Finally realized who which co-workers that I had befriended throughout the years were true friends. The culture at Pershing is not what I want my kid to experience as he continues his career at a young age. If you have options and can get out, take my advise and do so. Put your resume out there and hopefully you will land at a firm that treats it's employees better than the sinking ship Pershing has become. For those who received separation packages, the best of luck. For those still there and thinking they may be next, believe it would be the best thing that happens to you. Good luck to all, stay safe and enjoy the holidays. There is life after Pershing....
You must have accepted the job during the pandemic and not met with senior managers or you would have never accepted it.
It’s the worlds perfect example of narcissism. No real talent at the top. People have been there forever and checked out. Not an exceptional bright group. Especially at the EC level and even more at the CEO level.
Sorry for you. Look for something new ASAP.
Pershing is a legend in their own mind.
They have been a bunch of elitist cry babies from the first day.
Think they are better than everyone else and the rules don’t apply to them.
So many dinosaurs there they think they are still part of DLJ, a firm long gone.
Fareed and Mario good examples of the Peter principle as well
Suresh was a skilled technologist who hit the Peter Principle the day he hit CIO.
which is also why they wont spend extra $ to get more talented staff and/or upgrade tech.
pershing is a non-factor in the banks financial results
the servicing business generally is not terribly profitable. That's why I'd love to see detailed financials for Pershing. But in all my years, I've never gotten them.
My guess is they could divest it tomorrow and the BK bottom line impact would be <1%.
tech is just a cheap Indian hangout, from what I can tell. Suresh was defending his peoples. Ram is dreadful, but no one touches him. cheap.
It's funny, when Suresh was CIO of BK, you would think Pershing was the only BNY business. He was constantly telling us how great it was. Of course he was always harping about self-driving cars when his employees were busy trying to figure out how to fill out the fields on a Remedy CRQ to get changes put in within the next month.
For some reason Pershing seems to be untouchable when it’s time to fix issues or improve processes. I’ve never understood why.
Ive been at Pershing from Renyi, Kelly, Hassell, Scharf, and now Gibbons.
And about an equal # of different heads of Pershing.
Nothing changes for the better, let me tell you.
Same.
@uwo+1dyOst2k, I think because it’s a serious culture of fear they have going there. They see people let go left and right afraid to speak up because they’ve seen what happens to those that have the courage to do so. Some people can’t risk that, so they cling to what they can and try to fly under the radar. Or that’s my take.
Very well could apply to entire bank, but I'm just confined to my little Pershing world over here in JC. I joined last year, and from asking around, it seems like Pershing has been an after-thought from the very time it was acquired from Credit Suisse.
With some investment and focus on actually implementing leading edge technology, this place could be phenomenal. But they are worried about pennies here and nickles there.
And everyone seems to hate their career here.
I'm surprised there aren't more posts like this about Asset Servicing or whatever they're calling it these days.
This whole entire company and it's subsidiaries are a dumpster fire it's not just Pershing.
if u think Pershing is bad the BNYM side is worse.
Can confirm