In a recent interview with Time, BNY CEO Robin Vince discussed ongoing efforts to reshape the 240-year-old institution, focusing on breaking down internal silos, rethinking organizational culture, and investing heavily in AI-driven transformation.
Since becoming CEO in 2022, Vince has pushed to unlock latent potential within the firm's diverse businesses. "Clients have a lot of respect for BNY... but they were a little frustrated with us that we kind of weren't living up to our own potential," he said. The solution has involved reorganizing around shared client relationships, creating a firm-wide ownership culture, and rethinking how different business units collaborate, Vince explained.
Central to BNY's transformation is its AI strategy. Through a partnership with OpenAI, BNY has begun deploying AI agents and so-called "digital employees" — autonomous systems with logins, emails, and supervisory structures — capable of handling complex, repetitive tasks while maintaining audit trails. Vince emphasized AI's potential to create "intelligence leverage," not eliminate jobs: “If we can create more capacity using AI, we free our people up to go do more things for clients.”
Vince also described recent cultural shifts at the firm as part of a broader push to modernize both operations and brand identity. "We have three strategic pillars: being more for our clients, running our company better, and powering our culture," he said. "But it's the 'culture' one that has created the will to go quicker on the others."
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