Are there any other reasons why an acquiring bank would engage an outside consultant to lead integration efforts?
Ernst: When management evaluates potential consultants, its looking for dedicated, experienced leadership thats focused on producing results that would allow leadership to run the bank on a daily basis as opposedto being diverted from running its currentmodel in lieu of business integration. Our emphasis on best practices leverages our vast experience, as well as the engineering experience of our staff. We call it bridging the gap, such that management provides the vision and we assist them with execution. Companies need that neutral bridge builder between acquirer and target to affect a systematic change while minimizing the emotional aspects of the deal. This allows the acquirer to continue its daily management of the institution while assimilating the target into the new vision. Webb: An outside consultant brings a fresh look to the picture.In our practice we like to say we weed the garden. Any business will have some troublesome issues that grow over time and needto be addressed. O
Related Questions
- Would we as the lead institution act as a consultant who awards funds and guidance or would be able to actively engage in the process?
- Are there any other reasons why an acquiring bank would engage an outside consultant to lead integration efforts?
- Can a DDAEP and a JJAEP combine efforts on the proposal since both are considered to be lead agencies?
