Gerald L. Hassell
Chairman, President, and Chief Executive Officer, BNY Mellon
New Realities of the Financial World
Gerald L. Hassell, chairman, president, and chief executive officer of BNY Mellon, a leading investment management and investment services company, offered a sober view of the global economy and talked about what he sees as “the new realities in the global financial markets” at the Chief Executives’ Club of Boston on November 30. Edmund F. (Ted) Kelly, chairman of the board of Liberty Mutual Holding Company, Inc., introduced Hassell.
TAKEAWAYS
“Macroeconomic trends and rumors are driving investment decisions. Another issue that exasperates these [market swings] is the size and impact of index funds, exchange-traded funds, hedge funds, and high-frequency trading.” TRANSCRIPT AND VIDEO »
“The early analysis of Europe suggested ... the market could withstand or afford the writedown and the refinancing. Once the contagion reached Italy, it [was] a whole different ballgame. The [bailout] programs contemplated simply will not be large enough.” TRANSCRIPT AND VIDEO »
“These new realities … have resulted in continued deleveraging all around the world. Creditors are very gun-shy, to the extreme. We have ended up with a huge liquidity buildup. Companies are challenged to protect themselves in the face of market rumors.” TRANSCRIPT AND VIDEO »
“[Regulators] might also want to hit the pause button on re-regulation. Let’s try to adjust what’s already been written [in the Dodd-Frank Wall Street reform law].” TRANSCRIPT AND VIDEO »
PRESS COVERAGE
Wall Street Journal: “BNY Mellon CEO: Company ‘Encouraged’ By Recent Virginia Ruling” ARTICLE »
Reuters: “BNY Mellon CEO says growth ahead in Boston: Hassell offers rare geographic details amid cost-cutting” ARTICLE »
Boston Globe: “Bank of NY Mellon chief: Pension funds fully understood how foreign-exchange trading services work” ARTICLE »
Boston Herald: “NY Mellon CEO seeks ‘pause’ on Wall St. reform, defends forex”
ARTICLE »
EVENT PHOTOS
