RV is wall street guy and his hires.
They will never understand BNYM and have no intentions either. They are nit Gerald Hassel,Todd McGuinn,Frank Cahouet.
These came up the ranks.
Kelley,scharf, now RV will sc--w up big time, getting the golden parachute on their way out.
If you think they give a cr-p about the oldest financial institution.
Take money and run.All globalists!
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Again, you’re missing the part about Bob Kelly and Marty’s destruction of the balanced Bank. Cahouet was still on the board and assented to Kelley as C.E.O. and later blessed the “merger” after Frank’s work was destroyed
@1hum, in the somewhat recent Pittsburgh Gazette article, “The selling of Mellon”, Marty McGuinn implies that the board, driven by Calhout, made the decision to replace him as CEO and then quickly sell the Bank to BNY Corp. Frank was not driving the ship, it sounds like he was part of the navigation crew.
Or maybe this is all a pawn between two very rich men who both enjoyed riches paid out from this firm to their wallets?
Being commercial meant don't try to increase the Stock price !
Robins job is to make the firm money & increase stock price to shareholders. He is doing neither - too worried about where I am working, and DEI
@1ypy+1mFEPMiw I would rate him a BE for keeping the share price to bare minimum and not moving it up $ 40 mark.
🚜 boy will prevail good old boy network GS and JPM will keep diesel in his tractor while we all struggle in our EV put puts
@1ysy+1mFEPMiw It takes skill to not leave the $ 40 mark share price ? Do you have any idea how he is able to maintain that figure for a very long time lol.
He's gonna save our $40 stock price by paying more for $500M debt offering just so he can say he used minorities and women. Holy Paderewski, Batman!
No. Cahouet successfully fought of two hostile takeover attempts from BONY. Frank Cahouet retired and named Marty McGuinn as next C.E.O. and the board ratified it. Then McGuin, who was the best C.E.O ever for benefits, pay raises and even stock options.
Unfortunately McGuinn abandoned the balanced bank strategy, sold off the retail Bank, which impacted Corporate Treasury, and squandered the money on Human Resources Outsourcers, a business fad at that time which we had absolutely no competence.
Frank told me that his vision had been to continue to acquire well run Trust Banks such as the Boston Company which had been a great acquisition. After Marty’s moves, Cahouet viewed his work as destroyed and serial Deal Maker Bob Kelly arrived. Cahouet was still on the board and blessed the acquisition at a board meeting and it was done.
Firing ppl but not cutting their own comp....f all of those basteeeerds
Wasn’t Calhout responsible for the selling of Mellon Bank?
Well, when you hire clowns 🤡 you get a circus 🎪!
We’re a simple, sleepy custody bank with a nice group of private label bank servicing, , Lockbox services and limited banking for Private Wealth customers only.
There’s actually not a lot to understand about the bank.
Can’t argue with that.
One thing I observed over time was the transition from leaders who were BNYM born and bred (both for better and for worse) to those who were coming to make as much as they could for a short period then using the company as stepping stone.
The latter have no investment in creating a sustainable org.
Yes, those who parachute in often bring fresh ways of thinking (not that it often amounts to much). But they aren’t all in. And the company is poorer for it.