Moniker “BoNY M” cited as evidence of lack of forethought in BNY/Mellon Merger
| Dec 8th, 2006 | Filed under: Today's Post | By: Alpha Male |
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IPE.com reports today that some clients aren’t comfortable with the merger between Bank of New York and Mellon Financial. As evidence of what IPE.com says might be a rush to the alter, it cites how the merged company now shares the same name as 80’s Euro-disco band “Boney M“. Says IPE.com:
“The fact the deal was done in five to six weeks – and that the PR own goal of the BoNY M name was allowed to pass – is seen as evidence that it was put together too fast.”
“Own goal” indeed.
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[...] Looks like BoNY M will have to update its list of trillionaires. Number one UBS ($2.016t) is being trumped by Barclay’s / ABN AMRO ($2.058t). But the difference is “razor thin” at a mere $42 billion (a tad larger than the GDP of Kenya for those keeping score at home). [...]