CK visits PGH, literally tells wealth managers that they are the cause of low fee and revenue number because they aren’t using enough BNY products and too focused on protecting client assets.
Can someone remind her what being a fiduciary is?! Can someone find a mirror for her.
Not gonna spoon feed it to you in the age of instant information.
How much longer will RV let her stick around? From what I can tell, her strategies aren’t working and I haven’t heard anyone actually speak positively about her.
Only that birds of a feather flock together, blood is thicker than water and tigers don’t change their stripes.
Perhaps our clients who have been underperforming are not using enough BNYM products. They could try our FX products which give the best rates of the day, er…. hold that thought..
TME is a strategy. Most firms have some type of TME. It’s a good strategy. Maybe the only good one on the platform
The Keating 5.. how is there a relation here? Not seeing it
TME up 11 cents today.
TME = tax-managed equity. It’s a strategy not a stock. CK decided it would be our big new thing and has been trying to move everything into it for the past year plus.
Not to mention it’s a bit of a gimmick for many types of investors, but I’m sure the fees are good
First, TME (10 cent music ADR), a derivative of that foreign stock, makes no sense in a wealth Management scenario. I do find it amusing that it is somewhat of a flatliner stock, just like BK.
Private Wealth clients need solid balanced portfolios either throwing off or reinvesting dividends and/or layers of structured bonds with little risk. They don’t need people throwing darts at individual stocks.
In fact, hyping one stock in a large Private Wealth portfolio would indicate an abdication of fiduciary care for the client. Working at the Bank, we probably should cut her some slack as BK is also a flatliner stock… perhaps she’s Gaga because it went up $2.96 today.
It’s still far closer to gambling on a penny stock than an investment
But don’t believe me…. Check it…. https://www.google.com/finance/quote/TME:NYSE
It’s involved in networking and it’s based in China to boot….
https://finance.yahoo.com/quote/TME/profile?p=TME
Can someone remind her of the Keating Five scandals? Any knowledgeable Private Wealth investor would right out in seconds once they understood with whom they were dealing.
No surprise, financial malfeasance is in her blood. Just hoping to follow in the Keating family business. I’m sure she can’t fathom why we might suggest IVV over our underperforming overpriced mutual funds…
She’s been flogging TME like it owes her money, no chance there’s a profit motive there
@hss, we have plenty of products that wealthy people use though.
I’m surprised BNYM remains in the WM business.
They no longer have retail as a feeder. And they don’t have a strong consumer brand.
Meanwhile Citi's revenues are up 81% YOY HAHAHAHAHAHAHAHAHAHA BNYM really ?