Since the act of acquiring BBH flopped, I am sure at this point BBH is desperate for more employees since a lot have left in anticipation of the takeover. But ultimately they are so small that I can see them being a target in the future. and STate Street surely shot themselves in the foot for all this time wasted in hindsight? And I’m sure many of BBHs clients have gone somewhere else now. What do you think will be the result of this failed deal?
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BBH is screwed. The won't be able to win new business, keep old business or get and retain new employees. State Street can win 80% of there clients and not have to pay them. Massive destruction of wealth for BBH partners.
The workers at BBH will have a Merry Christmas and a Happy New Years.
Their jobs are saved , no layoffs, no fear of becoming part of State Street.
Rejoice, Celebrate you are free
State Street is like the Titanic over confidence that it was to big and powerful to ever fail.
They were so eager to lowering their expenses they started doing yearly layoffs and outsourcing and bringing in H1B workers.
Sadly they did not think about the danger of getting rid of too much of their inhouse staff just to say money.
That is why the quality of their customer support and the quality of the work is subpar.
I would imagine that they have already lost quite a few clients. I have quite a few State Street and also BBH employees in my network. Some former State Street employees are currently working for BBH. I know that most did not want to return to State Street. They had left State Street for a better opportunity at BBH. Not sure what will happen going forward.
I think both companies will probably scramble. State lost many employees too and I feel upper manager had this idea all along that they will get bbh talented employees to come in and cover- and now that isn’t happening.
I think both companies stock will fall and clients will continue to leave due to poor service from lack of employees and talent
State is a sinking ship. which is interesting to see what will happen because it is deemed ‘ too big to fail.’