Pros
Its a great place to go if you don't want to rock the boat, innovate and deliver great software. If you like doing what you are told even though its inefficient and costly then this is the place for you. The food is nice. It is very likely that you will be given a much larger salary than your current company when joining which makes it look attractive.
Cons
Promotions are based on politics, bonuses and salary increases non-existent (your starting salary will stay with you for quite some time). Managers take credit for subordinates work but blame them for failures. The business (fixed income) treat IT like children and IT management are too weak to work towards an effective partnership with the business. Occasionally they pay lip service to innovation by spending a fortune on expensive consultants because they don't believe the same stuff when it comes from their own staff. On a technical note, the IT infrastructure is stuck in the last decade - impossible to get hold of hardware, impossible to innovate due to tightly controlled desktop/server builds, the outright ban on cloud infrastructure means we will always be last in the race to deliver new features. (c.f. 15 minutes for a new VM in Azure v.s. 2 weeks for the same in BNPP).