1.0
4 Mar 2015
Current employee, more than 10 years
Weehawken, NJ
Recommend
CEO approval
Business outlook
Pros
Large enough to have areas of interest for any employee, sitting on large excess capital base so the bank will never fail, if you can make your boss look good, you will do well.
Cons
Not an innovator, late to any trends in the markets, then pay top dollar for asset acquisitions, leading to inevitable failure. Regularly cited by regulatory agencies for unethical violations, senior management came from Merrill Lynch, and continue to have that old Wall St mentality of pushing high cost, high margin products across the board. Despite this, the bank fails to grow (+2% yoy top line growth) forcing regular headcount reductions to grow bottom line.