Bank Mergers: Risks and Challenges of Integration (II)
26.10.10
From the standpoint of strategic convergence, to have a road map will be the first step for the major milestones of the merger to be known and shared by all the parties involved. Transparency will be essential to facilitate the identification of new corporate values, reduce the uncertainty, quell the rumors and involve all the employees in the merger map. It’s all about moving from a known past to an also known future.
In terms of processes, the new teams will have to work on a central model that obtains the maximum benefits of the synergies identified and in which each department has internalized its new role and its impact on the organization as a whole. A major milestone will occur when it must be opted in the business sector for using the best processes and practices of each entity, from which the new business model of the surviving company arises, with which all can identify with.
In terms of attitudes, as important as the financial or operating issue, it is necessary to facilitate the identification of the people with the new goals and promote a sense of belonging, which is easier said than done, but which may imply the difference between success or failure.
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