They say you should keep your friends close and enemies closer. If that’s true, makes a lot of sense why RV joined BNY, across the street from GS. The GS that fired him
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Dear 3tgs-1trw, on this:
May be you should visit this site after 2 years and notice the "effect" of his trimming and restructuring efforts. It is too early to give him credit for his actions
No , no and No. I for one am not giving RV any credit or admirations whatsoever. In my estimation, he is uninspiring, devoid of vision, reactionary , looks for low energy answers and is short term minded with blinders. He grows and encourages nothing. He seeks to cut and go cheap. So? My view out of the way, again let me point you once again to the real root cause: His ‘masters’: The woke board of directors and investor holders at BNY. That my friend is your problem. That my friend is the root cause of angst and issues with the work environment and ugly culture. For you see, they do not care one iota about that. It is only quick returns by lopping heads, cutting costs and developing a low IQ cheap service model that simply gives clients basics only. 2 years and come back here you say??? Oh, ‘Run! Get to da choppa!!’ LOL!! I see the trimming results now. Every business day. This place is getting squeezed like an old withering grape. It is unsustainable and proof of a bigger event to come. In 2 years, this will be unrecognizable and something else entirely. And now, it’s well on the way to that ‘event’ , RV is doing the bidding of the board and the investor community for BNY. He doesnt need to build big. Only to get window dressing and positive returns for them in the meanwhile. And this, he is delivering. In the board’s view, he is ‘exceeding expectations’. He is doing a good job on expenses - us! Think of him as a fast food franchise manager going with cheaper tools and machines, less tasty, less complicated and greasier ingredients and offering a watered down dollar menu. All ‘imported’ and DEI compliant to be sure.
@2mmz
Vince took over in Sep 2022
Firm Sep 2022 Now
BK $42. $64 52% up of Sep '22
JPM $113 $204 80% up
MS $89 $104 16% up
GS $331 $464 40% up
For stock price we are mixed bag at the best
Morning Star Data says that we were under performers in the industry. And RV is harvesting the hard work done by the previous department heads and a robust recovery from the 2022 downturn .. He is lucky to ride the upswing. True leadership emerges in tough times not during easy period with such a heavy interest income flow compared to the zero interest period
Even if he had wished to sc--w it up, he could not have failed ..
May be you should visit this site after 2 years and notice the "effect" of his trimming and restructuring efforts. It is too early to give him credit for his actions
These complainers about RV, shut the fu-k up and do your work. You will never find the perfect CEO because life is not perfect. One thing I do know, my 401K balance looks better since he became CEO. Go hustle instead of your incessant complaints. I got 3 outside side hustles complimenting my BNy job.
Bank of New York Mellon touched an all-time intraday high of $64.93 on Friday after second-quarter earnings topped Wall Street estimates, above the prior record set in February 2022
This is why RV is here to stay. Again, he is neither your friend nor your enemy. He is achieving what the board and investors want. People in UK and US are being replaced in other areas. It’s not personal, it’s not mean, it’s business….
And yet Bridget and Charlie both came in this way.
@xyp+1trWvAcq Did you really write headhunter? 🤡 You think that’s how THIS works?
42 not only are you naive and a corporate tool, you are ridiculous.
Why would anyone trust this RV.
17 Goldman Sachs bankers charged over the 1MDB scandal wanting prison sentences of up to 10 years.
— Robin Vince, x-chief risk officer of Goldman Sachs.
Malaysian government charged 17 current and former Goldman Sachs executives as part of its sweeping probe into the bank’s alleged involvement in a multibillion-dollar financial scandal at 1MDB, the country’s state investment fund.
Enough said.
https://www.fnlondon.com/amp/articles/here-are-the-17-goldman-sachs-bankers-charged-over-the-1mdb-scandal-20190809
Considering that Robin Vince worked at G.S. For 30+ years it’s quite unlikely that he was fired from G.S. 30 years of promotions at G.S. makes it obvious that head hunters came in with a great offer.
RV is neither your friend nor your enemy. He is doing a job. A job on those whom the company with its woke board and investors feel are balance sheet poison. Yes, those eliminated may be the greatest and talented folks in the world. But… it matters not. RV’s mission is to remove as many biological payroll infestations in non growth areas as possible. And this, he is doing. In the long run, it will be a d-mbed down, drive thru window, capability zero management place, but for now this is the current ‘must have’ theme.
Well there’s 30 seconds of my life that I’ll never get back.