Post everywhere and advertise to the world so its known what a miserable state of affairs this turned out to be. destroyed lives, business and any hope that things will get better.
10 replies (most recent on top)
@hq is absolutely right..@e6 should probably check the financial statement,Pershing is a cash cow and is very profitable..
Noticing the posts about the immense size of Dermies head being taken down. It is a fact- Dermie has a Titanic sized head. Deal with it.
If Dermies head were laid off? it would create a black hole with gravitational pull that even light could not escape.
@e6 is an id--t! Persh is and always been a cash cow and the biggest LOB at the bank. Why else do u think they have been invested into so heavily. Now these mo--ns are he-l bent on running it to the ground. remember it’s only one of the few regulated units at the back .. and that’s why these British bullsh-tt***ers shudnt be f ing around this way
Dermie dismantled programs
@e6 You should post the brand you are smoking - That has to be some incredible stuff
@ar “well managed Pershing”. What f#cking company do you work for? Pershing has been operating like a train wreck for 15 years? Crowley asleep (probably literally) at the switch; business folks selling products that don’t exist, massive credit overdrafts. Pershing has been a dumpster fire since 2008.
Are Pershing x and wove still the hype?
Not sure about the stock price, but most folks are simply miserable and that will show up somewhere. Karma is delayed but not denied. For eg., the well managed Persh has been completely trashed. the new ppl that were brought ain't got a f-c^ng clue how to fix. Top to bottom NO one wants to stay, and those that do are simply miserable coz they cant find a way out.
p-m is a trainwreck - BNY managed to push anyone good and competent out of the company
I have not found anyone that says that P-M has been a big help to them. A few have said they have received just a modest help.
@OP The BNY P-O-M is much worse than the model McKinsey implemented within its own firm and the consequences are disastrous. Hydrocephalic Dermie is responsible for the model and of course the main benefits are to reduce the cost structure, lower the target salary midpoint for all roles, reduce the experience requirements for all positions, and retain corporate knowledge within the platform groups rather than maintain control through select leaders and teams. Resources become lower cost pawns in planning and executing corporate process. Job families become fungible commodities easily globalized and deployed to lower cost locations with lax labor laws. Demie’s skill at building and maturing the P-O-M model is on full display as we watch everything crater and experience “leaders” churn, turn over and produce no meaningful results. As long as the stock price and his RSU’s grow, Dermie’s ineptitude and insidious actions aimed at cost reduction and creating an absolute mess are completely overlooked.