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.

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