{
  "docId": "019dd923-622b-71dc-a6db-bdca37d75b59",
  "docSlug": "5fc8a35c21e4",
  "documentTitle": "The Bank of New York Mellon (BK)",
  "authorId": "07_Marcato",
  "authorName": "Marcato Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-03-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 87,
  "pageCount": 153,
  "prevPage": 86,
  "nextPage": 88,
  "slideType": "propose_solution",
  "function": "diagnose_problem",
  "density": "overcrowded",
  "nDataPoints": 65,
  "notes": "Uses a sensitivity table to demonstrate implied ROE against consolidated ROE targets.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_vertical",
    "kpi_table",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-bdca37d75b59/87",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59#slide-87",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Without the subsidy from net interest revenues, BNY Mellon earns much thinner margins for the valuable services it provides",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0933-75bb-9bff-2acce6b5df01",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.4,
        "x": 0.07,
        "y": 0.28
      },
      "kind": "chart",
      "text": "Investment Services Margins",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "34b45e6c-4058-4df2-ba8f-47cc19bd76f9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Investment Services ROE: 9%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0933-75bb-9bff-2f1f52bfca3d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.53,
        "y": 0.76
      },
      "kind": "paragraph",
      "text": "Investment Services is unlikely earnings its cost of capital (~10% cost of equity)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2fd2b600-911a-483f-b520-f5525426c94b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.07,
        "y": 0.76
      },
      "kind": "paragraph",
      "text": "Without the subsidy from net interest revenues, BNY Mellon earns much thinner margins for the valuable services it provides",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "674ea68b-1b98-4df9-8704-790b9e7c72de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.26,
        "y": 0.86
      },
      "kind": "source-note",
      "text": "Source: Company filings. (1) BNY Mellon does not provide segment ROE. Investment Services ROE implied by assigning Investment Management a peer-level ROE and backing in from the consolidated ROE. Ignores Other segment for illustrative purposes",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7015ea1e-2588-4e73-a433-943feacb3aa1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.4,
        "x": 0.53,
        "y": 0.35
      },
      "kind": "table",
      "text": "Illustrative Investment Services ROE %",
      "attrs": null,
      "subkind": "scenario",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "540e22d0-b486-471d-994b-f32d5a619eb2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.8,
        "x": 0.07,
        "y": 0.19
      },
      "kind": "title",
      "text": "Reconsider fee schedule and structure to earn appropriate margin for services and ROE",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "91636168-54df-4da2-890d-26dfce37928a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.6,
        "x": 0.04,
        "y": 0.11
      },
      "kind": "title",
      "text": "1. Reconsider Value Proposition to Customers (cont'd)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "00c0f944-9cd6-4ba0-8ada-78378e1b2a0d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "f095c14c-a48c-4306-b3ce-4e54d4d490c5",
      "evidence": "Illustrative Investment Services ROE %",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "scenario_table",
      "slug": null,
      "matchId": "3e7be773-edb4-436a-bc6e-52c431ab96d1",
      "evidence": "Sensitivity analysis of ROE based on varying consolidated and investment management ROE inputs.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 98,
      "from": 86,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "24ce05d2-8c6b-4b36-99aa-dd03ec3c6479",
      "evidence": "The document presents a detailed vision for a better future at BNY Mellon, with specific proposals for change.",
      "position": 1,
      "objective": "To present a clear vision for a better future at BNY Mellon.",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}