Pros
Paychecks did not bounce Did not have to do any work
Cons
Where to start... When our company was bought by Pershing and then smashed together with our competitor we all felt a little sick. Its been 3 years later and the company is still not integrated. Senior leadership shut down all development, started outsourcing all of its technologies and refused to commit to any major decision. After about a year our clients started to complain so in order to keep the company running we had to cut all of our pricing significantly. This meant horrible raises and bonuses for years. Even though BNY Mellon was making billions of dollars in profit per quarter we kept getting emails saying that "times were tough" and that raises would be cut again. The technology was a joke, especially considering we were supposedly a "technology" company. Our infrastructure was embarrassing. Tech support was ridiculous and BNY made it very clear that it was not changing anything anytime soon. The company is an utter failure and all of the senior leadership should be fired. The technology team is filled with people that know nothing about technology. The COO (initials TM) is despised by everything she works with, and with good reason. I refused to work with her because of the way that she talked to me and my coworkers. Its a shame because companies like this have put other companies out of business, not because it offers a decent product but rather that it has the backing of a mammoth of a company (BNY). Again, this merged company failed. Completely failed. I left the company about 2 years after Pershing acquired us. It did not take us long to realize that it was about to get a lot worse after the acquisition. At this point all of the people that have any skills have left. I understand that 1 of our 4 remaining presidents is resigning. Instead of walking away with who knows how much money in severance, he should be walked around the office so all 300 people can say, to his face, how much working for him has been a waste of a career. Its a shame. As a small business we were successful and happy. This is what happens when a huge bank takes over. They should be ashamed of themselves. One moment that I will never forget was the day that we got an email from the CEO asking that we each donate to the BNY Super Pack. He says it was important that the government did not do anything that would harm financial institutions in any way. I'm one of those crazy people that can't stand the power that big banks have. The truth is that if Pershing would go away as a company the world would be better off. The employees would be happier elsewhere and the clients would absolutely be better off. Congratulations to Pershing senior management. You've accomplished nothing except make 300 people miserable. You ruined 2 successful companies and you left the company in such bad shape that I'm not sure how it will recover.