What a clown of a department
10 replies (most recent on top)
Yes, TS pretty much is the only business making money right now.
Don’t tell Pershing that though… they’re very sensitive whenever T.S. bails out the bank, particular as their model hasn’t worked for almost five years now.
Treasury Services is a veritable transactional tollbooth. One of THE largest retail and wholesale lockbox providers. Every wire sent… Cha-Ching. Every money movement Cha-Ching. Every sweep, Cha-Ching. Every new private Labeled Bank… Cha-Ching. And the beautiful thing is that it’s a counter cyclical business. So, when Pershing is horrible… like for oh…. the last four years of the slow rolling market crash… T.S. Is throwing off cash.
Sounds like someone works in treasury services to say it’s making money and lots of it
@2swn
The earnings reports shows that Pershing brings in real-money unlike other departments. Where do you get this information from or you make it up as you go by.
What brand do you smoke
Define making money. From the BS, looks like it’s been neg YoY
Treasury Services, they make money… lots of it. possibly the biggest outsourcer of lockbox transactions in the U.S. (sorry that it doesn’t support the India narrative here. Yes U.S.A. Banks outsource to BNYM T.S.. Outsourcing is not synonymous with India.
Sleepy BNYM would rather make money charging for custody transactions and stock market based revenue. Unfortunately, both our Private Wealth and Pershing do the impossible by making even the gamblers at Fisher Investments look credible.
Isn’t TS pretty much the only business making money and investing right now?
@OP, how is that? TS is making money.
Taylor Swift
What's TS