25 Quotes by Gerard Cassidy

Because its three main competitors shot the lights out, Bank of New York's solid, respectable results disappointed people.

Canadian banks are all looking for opportunities to grow in the United States.

Buyers are also more eager to do deals, because earnings growth is likely to slow. You can do a 'smokescreen' deal by buying an asset manager, commercial lender or processor, making it tougher to determine a company's true organic growth.

The economy could slow down, and there is still uncertainty about interest rates.

The earnings results clearly show that margin pressure remains intense, especially on banks that don't have large capital markets businesses.

The dramatic decline in the share price is entirely due to what's going on at its subsidiary. This is a serious distraction from the HSBC takeover arrangement that needs to be resolved.

The challenge for banks in the slower revenue growth environment is to become more efficient to drive down operating expenses. With the spread between the long end and short end being narrow, it's tougher for banks to make money.