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The changes in Online Banking in recent times
by Noah Diaz on Sep 5, 2011
One way online banks have changed over the years is what has occurred at the Bank of New York Mellon establishment. It was announced yesterday that the CEO Robert P. Kelly was stepping down because there was a “difference in approach to managing the company”.
There was a time not to far distant in the past where a CEO was the driving force behind a company. The CEO was the leader and their vision is what set the path for a firm to follow. Mr. Kelley has seen this financial giant grow over his tenor to becoming the 6th largest bank in America. The second quarter profits for this bank was up 12% in the second quarter so profitability under his watch was better than most companies in the nation.
The revenues for that same time period were up 15% or $3.85 billion. This was better than what was predicted by the experts. The assets under the custody and administration of Bank of New York Mellon grew by 21% and reached a level of $26.3 billion by the end of...Read More >>
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