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☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.

Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington

☆ Watch CNBC's full interview with BNY Mellon CEO Robin Vince
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BNY Mellon CEO Robin VinceCNBC's Leslie Picker sits down with Robin Vince, Bank of New York Mellon CEO, to discuss earnings, macro outlooks, and more.

Persons: BNY Mellon, Robin Vince CNBC's Leslie Picker, Robin Vince Organizations: BNY, Bank of New York Mellon

☆ 'Not surprising' that Fed doesn't yet have confidence to cut rates, says BNY Mellon CEO
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Not surprising' that Fed doesn't yet have confidence to cut rates, says BNY Mellon CEOCNBC's Leslie Picker sits down with Bank of New York Mellon CEO, Robin Vince, to discuss potential rate cuts, macro outlooks, and more.

Persons: Mellon, CNBC's Leslie Picker, Robin Vince Organizations: Bank of New York Mellon

☆ BNY Mellon CEO: People sometimes underestimate the psychological impact of a higher stock market
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon CEO: People sometimes underestimate the psychological impact of a higher stock marketRobin Vince, BNY Mellon CEO, joins 'Money Movers' to discuss BNY Mellon's far reach, what Vince is seeing from capital flows, and the amount of investment into the economy despite the Federal Reserve's position.

Persons: Robin Vince, Vince Organizations: BNY Mellon, Mellon

☆ One of Wall Street's favorite ways to control workers is under attack
▼ + stars: | 2024-02-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.

Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, —, Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts

Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.

Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York

☆ BNY Mellon CEO: I am 'struck by' to see how interested European CEOs are at investing in the U.S.
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon CEO: I am 'struck by' to see how interested European CEOs are at investing in the U.S.Robin Vince, BNY Mellon president and CEO, joins 'Squawk on the Street' to discuss Vince's vantage point on deposit flows, the pent-up demand for foreign investors, and more.

Persons: Robin Vince Organizations: BNY Mellon, Mellon Locations: U.S

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

☆ 5 executives at an elite investing conference shared their views on the Fed's master plan for interest rates — and the consensus was that markets are unprepared for the pain in store
▼ + stars: | 2023-05-02 | by ( William Edwards | Akin Oyedele | ) www.businessinsider.com time to read: +4 min

But executives at this week's Milken Institute Global Conference warn that may not be the case, and that markets are ill-prepared for rates to stay higher for longer. Here's the Fed's March meeting dot-plot, which shows where members of the Federal Open Market Committee see rates at the end of 2023. While markets are pricing in a pause in June at 5-5.25%, here's where they believe rates will most likely be in December: 4.25-4.5%. Below, we've compiled what five of them said on Monday about their expectations for Fed policy and financial markets. And as our chief economist likes to say, at higher rates, bodies will continue to float to the top over the course of the summer."

☆ BNY Mellon CEO: Banking crisis 'chapter' is really behind us
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon CEO: Banking crisis 'chapter' is really behind usRobin Vince, BNY Mellon president and CEO, joins 'Squawk on the Street' to discuss how the chief executive feels about the banking system right now, what Vince makes of the deal between J.P. Morgan and the FDIC, and Vince's viewpoint on international assets.

☆ Inside a women-only poker night at the New York Stock Exchange: 'If it's worth betting, it's worth raising'
▼ + stars: | 2023-03-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

BNY Mellon threw a women-only poker night at the NYSE to celebrate International Women's Day. Hours after the markets had closed, I was at the New York Stock Exchange learning how to play poker. This women-only poker night was thrown by Bank of New York Mellon on March 9, the day after International Women's Day. "Aggression is actually a winning strategy," said AJ Rudolph, the director of education and technology at Power Poker, as she walked us through the basics of poker. The Poker Power chips featured Frida Kahlo, Malala Yousafzai, Maya Angelou, and Rosie the Riveter.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ BNY Mellon CEO: We've seen peak U.S. equity selling at the moment
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon CEO: We've seen peak U.S. equity selling at the momentBNY Mellon CEO Robin Vince joins 'Squawk Box' to discuss why the firm decided to cut jobs this year, where the company found room to reduce expenses and more.

☆ BNY Mellon to cut 3% of workforce this year - source
▼ + stars: | 2023-01-13 | by ( Manya Saini | ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Bank of New York Mellon Corp (BK.N) is planning to cut around 3% of its workforce this year, a source familiar with the matter told Reuters on Friday, joining a number of Wall Street firms in trimming headcount to cope with turbulent markets. The layoffs, first reported by the Wall Street Journal, translate to about 1,500 jobs of the bank's total reported headcount of 51,700 as of end-2022. Shares in BNY Mellon were up 2.4% in afternoon trading. BNY Mellon reported a 38% drop in fourth-quarter profit to $509 million. Chief Executive Robin Vince in a post-earnings call with analysts acknowledged that the company was facing inflationary headwinds, and added that the bank's expense growth was high.

☆ Banker bonuses are set to be so bad even the firm's revenue drivers are going to get dinged
▼ + stars: | 2022-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. While they aren't internally announced and paid until early next year, firms are wrapping up discussions about the size of bonus pools that divisions will be able to disperse from. And for many firms, the pools are being resized from Olympic to kiddie. The Financial Times reported Friday that JPMorgan Chase, Citigroup, and Bank of America are considering cutting bonus pools within M&A and IPO teams by 30%. More on how crypto firms are hoping ads can quell trust concerns.

☆ How the wealthy use life insurance to escape estate tax and why the tactic is now attracting scrutiny
▼ + stars: | 2022-10-12 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

I'm Jeffrey Cane, stepping out from behind the 10 Things on Wall Street newsletter curtain to help catch you up on all things financial today. But first: Could I interest you in some life insurance? Yes, life insurance is one answer, but it's life insurance with a twist. This little-known tax tool, which may be coming under increasing scrutiny, is called private placement life insurance, or PPLI. It is effectively a life insurance policy that is owned by an offshore trust.

☆ Dozens of Goldman Sachs partners have departed the bank since David Solomon became CEO. See the running list here.
▼ + stars: | 2020-02-27 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years after succeeding Lloyd Blankfein. There's been a lot of talk about morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

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