bank of new york mellon

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Founded in 1784, the bank holding company provides financial services and offers investment management and as of Q1 2020 had $1.8 trillion in assets under manag

Bank of New York Mellon | 2023 World's Most Admired Companies

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Bank of New York Mellon

Bank of New York Mellon | 2023 World's Most Admired Companies | Fortune

It's been quite some time since the financial crisis. Yes. And yet, many people are still so concerned about the health of big American banks. Yeah. What kind of shape are banks in these days? I, I think they're very, very safe. I really do. And I mean that in all sincerity. Because of the capital [ UNKNOWN ] that's been raised. The risk management that we've all put in place. How we interact with each other and with the Federal Reserve in particular, but other agencies all around the world. And I so, our core earnings, our core liquidity, the leverage of the financial institutions is dramatically less than what is was going into the financial crisis. The products that we're working on and servicing are much simpler. And so I think the financial institutions are in, actually, very good shape. Mm- hm. There was a lot of talk this week. With J. P. Morgan. Yes. Making a defense that, about the size of banks. Big banks are a good thing Jamie Dimon said. Yes. Yes. Bigger is better. Do you agree with that? Or do you think that big banks. Pose a risk to the financial system. You know, Jaime speaks for his institution. I'll speak for ours, you know. Certainly the size of our institution, I don't think, is too big for the, the services we're providing the financial markets and the services we're providing our clients. Our clients are global institutions. They have business all around the world. They expect us to provide services all around the world. But is there a risk to being so big. I don't think so. Again, so long as it's well capitalized, the risk management is good, the culture is good, the liquidity is strong, all the core underpinnings of the organization are very sound. And I think they are. Do you think that the regulations, and there have been a lot of them since this financial crisis. What is your view on them? Too much, too little, just right? Well, you know, we've got, we have a lot of regulations, not only from the U. S. but all around the world. Our biggest challenge and I think history's biggest challenge is at times, there are competing regulations and competing ratios and competing levels. And the faster we get to harmonization around the world. On all of the regulation, the better off we are.

Gerald Hassel, CEO of The Bank of New York Mellon, tells Fortune's Susie Gharib how banks have bounced back since the financial crisis.

What shape are the U.S banks in?

Leadership

BNY Mellon CEO says banks have bounced back since 2007.

Bank of New York Mellon

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World's Most Admired Companies
As of 2/1/2023

Bank of New York Mellon

Company Information

World's Most Admired CompaniesAs of 2/1/2023

World's Most Admired Companies
As of 2/1/2023