25 Quotes by Gerard Cassidy

Everything they did in this communication was as if they had something to hide. They flunked it big-time.

The timing of the bank sale could have been better, but you can't blame management for the timing. Mellon did not, and could not, see that interest rates would fall to 45-year lows right after the sale of the bank.

A number of acquirers in 2004 have digested transactions and may do more in 2006.

Banks are between a rock and a hard place.

This announcement will help with Mellon's profitability. But until (the stock) does better relative to their peer group, pressure from shareholders will remain intact.

It's a resolution of a long-simmering cloud that'd been hanging over this company. Though it's painful, the resolution could have been worse. It's good news that it's resolved.

For big banks that want to remain major players, this move is going to force them to make strategic mergers, just like 1998.

The numbers were good at all of the custody banks and were driven by revenue in their asset management business.

Investors that were hoping for the sale of the company will be disappointed by this announcement. Investors who are in it for the long run will be pleased. I think this is a very strong choice, a very good choice for the company to bring in a Bob Kelly to run it.