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Post-merger integration
We designed and delivered a post merger target operating model for a UK challenger bank merging with a large African financial institution
We helped integrate finance and banking trade associations into a one organisation to deliver a more consistent representation across the industry
The challenge
An independent review into the effectiveness of finance and banking trade associations was launched following pressure from a number of leading Banks (inc. Barclays, Clydesdale Bank, Yorkshire Bank, Co-op Bank, HSBC, LBG, Nationwide, RBS, Santander, TSB and Virgin Money).
The review recommended integration of the existing trade associations was required in order to enable a more consistent representation, to avoid duplication and reduce costs.
Following consultation it was agreed that the integration would include the Council of Mortgage Lenders (CML), Asset Based Finance Association, British Bankers’ Association (BBA), Financial Fraud Action UK, Payments UK plus the UK Cards Association into a single entity.
PEN was asked to identify a team to initiate and deliver the integration programme against a tight timeline and budget.
Our approach
We quickly deployed an experienced consultant into the Integration Director role to lead shaping the programme including objectives, scope, governance, planning, budgeting and resourcing; and to engage with the key stakeholders.
We then established a programme team to lead and provide oversight of the workstreams required to design and deliver the integration, across areas such as people, process, branding, data, systems, infrastructure and property.
The integration involved a large number of stakeholders from the existing trade associations with competing requirements and dependencies. Using the experience of our team of working on other integration projects they were able to rapidly identify and deliver solutions to meet the time and budgetary challenges
Working collaboratively with the existing trade association stakeholders and employees was critical to success.
The outcome
UK Finance was launched just under 12 months from the start of the Integration programme, both on time and budget, resulting in consolidation of six separate trade associations into a single entity representing finance and banking.
UK Finance is now housed in a single city location, one team using common processes, infrastructure and systems with a single face to the market.
Our team were recognised for the huge contribution they made to the successful launch of UK Finance, including their ability to quickly identify the best options, cut through barriers to progress and to galvanise the hearts and minds of, what were, disparate groups of stakeholders and employees.
The team delivered a smooth transition to the newly recruited UK Finance management team, enabling them to build on the success of the Integration programme.
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