Working at BOK was one of the most disheartening experiences I have had in my career. BOK might be Dr. Laurence Peter's most perfect example of of the Peter Principle - each inept manager in Wealth has been promoted to the level of utter incompetence and in this role they thrive. Incompetence is allowed to thrive without check (unless a regulator catches it) and ends up creating headache and clean up for mid-level employees after the fact.
Frat bro managers must have been too hungover to attend basic business classes theorizing on the concept of hard vs. soft dollar. Management in wealth removed resources, constantly rolled out incomplete projects (Black Diamond) and then bestowed time-intensive clean ups to those responsible for handling the day-to-day client facing roles. Decisions made disregard the input of the employees doing the work and it comes at a cost: that of the client. The costs are then coupled with pour service. I believe the "Private" Wealth recipe for success coming from Tulsa is 'Increased Cost + Decrease in Service = Satisfied Wealth Relationship'.
As the largest shareholder continues to exit, the only way to keep the stock price up will be to continue to cut cost. However, without organic growth (and the talent to insight said growth) the company will remain as it always has - a mildly profitable, lower tier bank that will never truly "compete with Goldman" (a capability touted by the Chief Investment Strategist) but only other regional banks.
