The expanding financial crisis is not only completely remapping the world of finance, it's also forcing a rewrite of the traditional rules of integration. Most strategic consultants agree that post-merger integration issues covering IT systems, personnel, training, real estate, branding and others should be discussed and budgeted for long before a deal is signed. Now there are plenty of instances when this is simply not possible. But the
speed with which deals are coming together in the financial services industry is unprecedented.
As
strategic consultancies line up to help financial giants merge complex systems and businesses and thousands of employees, they may encounter challenges on a scale unlike any they've faced before. The volume of work alone may have even serial acquirers like Bank of America Corp. relying more heavily on outside consultants for strategic advice. And with most Americans invested in the outcome, the stakes of getting these integrations right couldn't be higher.
- Suzanne Stevens
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