What’s happening with the treasury services department..
18 replies (most recent on top)
@jujy. It took 15 years to develop and brings in no significant additional revenue but I agree it is the best new product introduced by treasury services in years. It might also be the last lockbox related enhancement ever.
What is happening is changes for the sale of changes, adding in POD people and processes for management to justify their salaries and existence, rather than focusing on taking care of customers by building knowledge bases first, then do all this other junk. They laid people off this year, foisting more work on fewer people. Morale is lower than a snake’s belly in a ditch. Management doesn’t care, nor do they care about the burnout, and the exodus about to happen. I tell the young people, get out of here as soon as you can.
How about our completely paperless Wholesale Lock Box. Best in the U.S. by far and likely in the world.
My co-workers worked on a project for 6 month to charge clients fees for the swift messages sent for their transactions but it was never turned on. The project cost hundreds of thousands of dollars without a single penny in returns.
Then in my group we haven't had any resources to do basic changes that could save hours and hours of effort for operations. This has been going on for DECADES in TS.
in my dept in treasury services, they were forcing employees to work 10-12 hour days including weekends. someone quit this week in one of the areas around me and i fully support them. they keep implementing change faster than they can train us on it. there’s multiple areas i work with on the brink of collapsing. it’s a lot happening way too fast
Everyone wants to leave the department. I heard it’s the worst department to work in
He was always a sharp dressed man.
What happened to Treasury Services? The former CEO, Frank La Salla jumped this sinking ship for DTCC. He got out of Dodge. The rest of you should too.
Pretty fast payments
Name one recent (last 10 year) innovative product that has been rolled out that is profitable?
Solid & reliable countercyclical revenues for over four decades. A great boring counterbalance to our complete incompetence in asset management. Let’s get some popcorn and see how Robin can sc--w up this franchise.
Don’t change what’s working.
OP - Why ask such a general question. Just come out with what you heard. If you heard anything at all. Otherwise this is just a garbage post.
The Treasury Services Department is still consistently delivering earnings.
Why do you ast?
Not hardly.
Pretty much nothing for the past 3 decades.
The whole operation is moving to India.
whatt is happening?