Reuters: US Dollar Report: BNY Mellon CEO - 'Europe is still an absolute mess'

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BNY Mellon CEO - 'Europe is still an absolute mess' Jul 18th 2012, 13:10 July 18 | Wed Jul 18, 2012 9:10am EDT July 18 (Reuters) - BNY Mellon Corp Chief Executive Gerald Hassell didn't mince words on Wednesday when asked about putting an influx of deposits to work in Europe, calling the continent "an absolute mess." BNY Mellon ended the second quarter with $221.1 billion in total deposits on its balance sheet. That was up 15 percent from the end of March. Hassell, on a conference call with analysts and investors, talked about the challenge of putting that money to work. "Europe is still an absolute mess," Hassell said. "So given the kind of deposits we have in Europe and in eurodollars and euro currency, that's where we're probably most challenged, because simply putting money to work in euro land given the environment has been a real challenge for us."

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