There’s no sense of team spirit, no clear vision, and nobody actually guiding people forward. How this place is even functioning is beyond me.
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As our EC proudly and defiantly likes to say... "THE ENERGY AND EXCITEMENT AROUND HERE IS PALPABLE!" To be honest, I'm not exactly sure why or where they feel this way? My only guess is that this FEELING is just the PERSISTALTIC WAVE that comes to them early in the morning after drinking too much of their own free, lousy brew. Not by coincidence, that's exactly the same feeling many on this thread get after hearing these words all the time.
to reiterate a post that has probably been deleted ... we have a culture, but it is one of cruelty and incompetence.
It seems to me that all the true leadership, strategic vision, and innovative drive at BNY “took the last train to the coast” the moment Robin and his Goldman Sachs cronies started running operations straight out of their version of Marty McFly’s sports almanac—predictable, risk-averse, and entirely derivative.
What remains feels like the afterparty no one wanted to attend: sycophants echoing empty slogans, cowards dodging accountability, and a handful of hopefuls gambling they can coast to retirement—as long as they keep the Just for Men stocked and pass as youthful enough to survive Robin’s quiet purge of aging talent.
Bank of ‘New York’ talent isn’t just being sidelined—it’s being slowly erased, one termination-requisition at a time, with Alejandro’s policy requiring MD-level justification for any role that dares to remain stateside. The era of bold thinking is over. The train’s long gone. All that’s left is the echo.
@a4 I have a love hate relationship with that term. My SL loves to say it.
@bb @bb+1k39f0tah
An excellent post.
Just to add more to the burning pile you have there- Digital Assets has been a complete debacle and money pit. And you call out the 30-40 year old technology stacks but you need to also make clear that we rely on terrible, obsolete, money pit vendors such as FIS. I don’t believe we are some bright bouncy Fintech at all. We are a simply a dirty dusty custody asset servicing utility that sits in the basement of the banking industry. We do the custodial and data safekeeping that no one else wants to do. And what is coming is that true fintechs are getting good at this. We will not be the only custody and clearance game in town just because we are the biggest.
We have a.) too much unnecessary management and b.) no clear vision as to what we should be based on our strengths.
This place is like a morbidly obese person thinking they are a designer model in a size 5 dress. You can say what you want and daydream, but it just isnt going to be.
From my perspective as someone who has witnessed the growth and stabilization of internet-based trading, I believe we have not made the necessary technological progress to truly be considered a FinTech company. Despite management's claims, we are not attracting new clients in significant numbers. We are fortunate that a few long-standing employees are helping us retain the clients we do have.
Our technology stack has not evolved. Several key initiatives have failed:
Our partnerships with IBM and Google have been unsuccessful.
Our attempts to use Blockchain have been a complete disaster.
The claims made about AltBridge appear to be false.
We are still generating revenue with technology that was developed and implemented decades ago, with only superficial updates. This 30–40-year-old technology is propping up executives who, in my opinion, can talk but don't deliver. The much-hyped AI Hub and Cyber Security initiatives are bloated and not producing results, despite the significant hype surrounding them.
Our architecture team, while academically qualified, seems unable to write code or engineer practical solutions. They rely heavily on vendors like Microsoft, Google, and Snowflake to implement and deliver. It seems that engineers from these vendor companies are the ones actually doing the work and educating our staff, who then simply repeat vendor marketing points. The entire leadership structure feels top-heavy.
While the firm is large and is attempting to integrate its functions, this approach only works if clients are willing to cooperate. Our "client service" is not genuine; instead, it's an attempt to dictate to clients. Our top management seems to believe that the market will embrace anything we release, a strategy that doesn't even work for a company with a cult following like Apple.
I am sure this firm is heading in the wrong direction. But somehow the board is buying or betting that the P-M will make them efficient which is not working so far. A P-M platform after investing nearly a year is not able to integrate functionalities
Wait until they take your 401k back from you
But we have the pillars and free coffee and the platform operating model. Everything is great. Bunch of clowns!
When you see how the company is sc--wing long time employees, and has been doing so for years - laying them off (sometimes with no severance) a few years away from what should have been a pleasant sendoff into retirement - who in their right mind would think this is a company you want to spend much time working for???? Unless you’re a top dog, they are going to sc--w you in the end.
@a4 stfu. You’re on multimultiple threads saying this d-mb sh-t
Ok