In the 30 years prior to the Financial crisis, our industry flourished driven by technology, deregulation, and globalization. In recent years, the industry is being re-sized and reshaped by disruptive technologies, regulation, and de-globalization. Gartland & Mellina Group hosted an event on October 22nd with a highly distinguished panel to discuss the current state of the industry.

“After every crisis and government’s response with greater regulation such as Dodd Frank, the question that journalists and academics ask – Are we in a better place? Will this prevent the next catastrophe? The response then and now is “No.” We are in a better place not as a result of Dodd Frank but because the 2008 financial crisis was different compared to prior such events and business leaders / firms are more cautious and educated about the risks in the system”

- Arthur Levitt Former Chairman of the United States Securities and Exchange Commission (SEC)

“The key trends in disruptive Technologies with respect to Financial Services are blockchain, bitcoin, and distributive ledger – which not only potential has cyber defense advantages, but could also virtualize the street back office in a way that has not been available previously and at a wildly disruptive cost”

- Thomas H. Glocer Founder of Angelic Ventures and former CEO of Thomson Reuters

“Blockchain is probably the most overhyped and misunderstood technology right now. There is an incredible opportunity in this technology – having a common ledger accessible to the entire marketplace with proper permissioning/encryption and the potential for real-time trade processing is a very exciting concept. Considering the significant amount of time and money spent on reconciliation efforts, Blockchain technology could have a revolutionary impact on the industry” 

- Michael C. Bodson President and CEO of Depository and Trust & Clearing Corporation

“Shadow banking is a way of causing change, regulatory arbitrage, and new models in the marketplace. Shadow banking will eventually be acquired by banks moving forward because of the successful peer-2-peer banking model that allow banks to meet their capital charges. Zero interest rates are a good argument for peer-2-peer banking or middle-market lending through the internet because there are a lot of people who would like to make that investment when the alternative use of cash is zero.”

- Brad Hintz Research Analyst, CFO, and Professor at NYU



Dear Colleague,

On behalf of the Gartland and Mellina Group, welcome to “An Evening of Discussion on the Current State of the Financial Services Industry.“ In the 30 years prior to the financial crisis, our Industry was transformed by technology, de-regulation and globalization. In recent years, the Industry is being re-sized and reshaped by re-regulation, de-globalization and disruptive technologies. These drivers are impacting how we serve our clients’ needs, allocate resources, design infrastructure, and innovate.

We have brought together a distinguished panel of speakers led by Vikram Pandit, former CEO of Citigroup, Mike Bodson, CEO of DTCC, Arthur Levitt, former Commissioner of the SEC, Tom Glocer, former CEO of Thomson Reuters and Brad Hintz, former Research Analyst and now professor at NYU to discuss the key drivers reshaping the Financial Services Industry and the implications for the future.

We hope that you will find this discussion interesting, relevant and informative. Thank you for attending and we wish you a productive and enjoyable experience.



Robert F. Gartland




58 East 68th Street at Park Avenue

New York, NY 10065

During the years 1919-1920 an elegant town house was designed and erected by architect William Adams Delano, of the firm of Delano and Aldrich for Mr. and Mrs. Harold Irving Pratt. Only the best materials available were used in constructing the house which is reputed to have cost over one million dollars in 1920. It is interesting to trace the story of the house and its owners.

Mr. Harold Irving Pratt was the youngest of Mr. Charles Pratt’s eight children. Mr. Charles Pratt merged Pratt Astral oil with John D. Rockefeller’s Standard Oil of New Jersey, during the latter part of the 19th century. Mr. Harold Irving Pratt was the managing director or Charles Pratt and Co and was also a Council on Foreign Relations member from 1923 until 1939.

Due to the Great Depression, in 1944 the house boarded up as no one was living in it. With the Council was outgrowing its original space, Mr. Hamilton Fish Armstrong telephoned Mrs. Pratt to see if she would donate her house. The next day Mrs. Pratt called to say that she would give the House to the Council. The House officially opened as the Council of Foreign Relations new headquarters on April 16, 1945.

The exterior is of limestone, custom made in the United States and the inside floors are mainly parquet, oak, or a self-polishing marble. As is typical of other houses of the period, a large kitchen and service area were installed in the basement. The Pratt’s dining room was on the main floor where the current Drawing Room now exists.

Up the winding staircase on the second floor was a library which also functioned as a dining room. The current Mansion Ballroom was the Pratt’s formal drawing/living room. At Mrs. Pratt’s insistence it was square, being modeled after a room she had seen in Ireland. It is decorated with pine paneling and beautiful chandeliers each of whose crystals are different.

It was also Mrs. Pratt’s wish to use the hand-painted Venetian type doors for the entrance to the library and the drawing room, although the architect demurred that they did not fit with the English architecture. The Pratt family gave three paintings of themselves seated with the original furnishings. These are located in the marble Franklin Hall and over the mantel of the sitting room. To this day, the Council has maintained its original integrity.

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