Dr Bob Kelly enlightens on how to cope in a crisis

Dr Bob Kelly

London: Dr Bob Kelly gave students at his alma mater an insider’s perspective on the banking crisis in an informal speech yesterday afternoon. The former CEO of BNY Mellon returned to Cass Business School, part of City University London, to address the students and field questions on the financial crisis and the financial services sector.

Kelly gave a detailed analysis of his understanding of what triggered the crisis, (the retail property boom of the 1990’s) and shared his learnings and experiences with the attentive audience. He outlined his regard for stress tests, “stress tests are awesome”, and warned the students “never to rely on ratings agencies.”

Commenting on the plans to ring fence wholesale and retail banking Kelly said: “I’m ok with ring fencing wholesale and retail banking, subject to learning the details.” He went on to explain to the students his preference for traditional retail banks saying, “I am not a huge fan of wholesale banking as earnings are more volatile due to higher risk and valuations of the business is lower than traditional retail banks.”

Cass Dean Richard Gillingwater CBE introduced Kelly saying: “Not only is Dr Kelly a generous donor in a financial sense, the donation he makes in terms of value by coming back to Cass and giving his time to talk to the students is immeasurable and we thank him wholeheartedly.”

MSc student Hinal Patel said, “The talk was really informative, you can learn so much in a short space of time that you would never get from hours of study – its great that such a high profile alumnus is able to share his real life experience – especially as he was in the thick of the action at the time of the crisis. You rarely have such a senior member of a large institution talk so frankly and in such a relaxed manner about these types of things.”

Kelly said, “It is a pleasure to come back to Cass and meet the future leaders of the financial services sector. I believe London has a bright and stable future as a major global financial hub and it is through high quality educational institutions, such as Cass, that the high calibre business leaders of tomorrow are created.”

A Cass Executive MBA alumnus (1986), and an honorary doctor of City University London, Kelly serves as Chancellor of St Mary's University in Canada and is a member of the Trilateral Commission.

Kelly served as the Chairman and Chief Executive Officer of The Bank of New York Mellon from 2009 to August 2011.

Comments

Why You Should Not Opt For IIT Bombay

This article is written by IITians in the blog Actors Imran and Anushka during a cultural program at IIT Bombay If asked to compare IIT Bombay to IIT Delhi, most students say that the difference is negligible. Both are in metropolitan cities with good options for hostels, PG accommodations, food and entertainment. Cultural activities are equally good as is the faculty and study methodology. Even placements at the two IITS are amongst the best in the country. Yet figures indicate that the top JEE rank holders prefer Computer Science Engineering at IIT Mumbai rather than IIT Delhi. But, we are here to tell you when and why you can avoid IIT Mumbai. Mumbai IIT was earlier placed in the suburbs, away from the crowds, giving IITians the space and peace to pursue their career goals. Today the area in Powai is surrounded by high rise building, malls and traffic snarls, bringing with it all the clatter and patter of a metropolitan hub. Just like the population and popular

Story of a B-Tech engineer’s love for music

Passion is one where everybody wants to plunge in. You may be forced to pursue alien paths in life. But your passion may be just opposite to that. Whatever, if you do a bit of research, you will get a path. Higher education is a world you have to choose carefully. That can lead you to peace and prosperity. Why I write this now is when I got a letter from a parent who is suffering from his son’s adamant approach to pursue a programme in music. As a parent he is not against music. But the thing is that, his son is an engineer. He had done his B-Tech from a premier tech-college of India- NIT. Now the son is working as an electrical engineer in a good firm in Bahrain. He draws around Rs.1 lakh per month. This is a good salary for a student who just now starts his career. But now the son wants to pursue his private passion- Music. He is an ardent music lover. His first few months salary was spent for setting up a studio at home. He bought few good expensive instruments and music equipmen

Second Pakistani University opens in UAE

Abasyn University RAS AL KHAIMAH, (UAE): One more Pakistani University has started its operations in Ras Al Khaimah with a mission to provide good quality affordable education for Pakistani families living in UAE. Name as “Abasyn University ”, the new educational platform will offer degree courses to the 800 to 1,000 pupils who comes out of Pakistani high schools in the UAE every year. Previously Szabist University in Dubai was the only Pakistani university in the emirates. Abasyn’s Ras Al Khaimah centre is its overseas branch campus. As a famed brand in Pakistan, the Abasyn University has campuses in Peshawar and Islamabad. Abasyn University is considered to be more affordable as it charges only Dh1,200 a month. This makes it more affordable than Szabist which charges Dh1,900, and Abasyn is significantly cheaper than other institutions. On average, university fees in the UAE start at about Dh25,000 a year. However, for anything science or engineering based, costs can rise

Edubeanz

Search This Blog