I've worked at the Bank for almost 10 years. I can honestly say that the company does have A LOT of dead weight. There are too many departments and too many "floaters". But the biggest problem are there are too many under qualified managers. And just like these under qualified managers are not qualified to do their actual jobs they are also not qualified to lay people off. The company is a joke but this is nothing new. No one should be shocked by what's going on and there's nothing Scharf can do to fix this unless he fires 90% and replaces them with qualified people. Good luck with that.
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Investors aren't on the verge of pulling out, they have been pulling out. The activist investor Trian Partners has been pulling out over 15 months and many investors follow their lead.
https://www.barrons.com/articles/peltzs-trian-sells-531m-in-bny-mellon-shares-1503054442
https://seekingalpha.com/news/3464397-trian-fund-gets-pentair
Made me chuckle
So Scharf tires to fix that problem by hiring some kid that married Dimon’s daughter last year ? And this kid reports directly to Scharf and is now on the executive board of BNYM? How is this possible ???
Who is the employee mentioned that is Jamie Dimon's daughter in law?
I am working on a last action suit. Please monitor these posts for details on how you can join.
Please be aware that they are positioning the company for a merger with JP Morgan. They have to get their numbers down. This is all part of the plan.
So Scharf tires to fix that problem by hiring some kid that married Dimon’s daughter last year ? And this kid reports directly to Scharf and is now on the executive board of BNYM? How is this possible ???
Like hire kid is his 20s to be a member of th BNYM executive management board to report direclty to Charlie who happens to also be the son-in-law of Jamie Dimon?
4 minutes, 103 views - hahahaha.... try to control this Corp PR and Corp HR.... OMG.... What a PR debacle....
Charlie - welcome to the board!