Projects
Support in taking control of the business of a digital bank acquired by a renowned bank in Spain
“Our effective coordination ensured timely integration while minimizing the impact on ‘Business as Usual’.”
Challenge
In a context of consolidation of the financial sector in Spain and the rapid digitization of the banking business, a leading bank in Spain decided to acquire a 100% digital bank.
For a successful integration, it was key to quickly incorporate the acquired entity in a controlled and flexible manner, with the main goals of:

  • Obtaining legal authorizations on time

  • Involving the buying team without harming business as usual

  • Retaining talent and leverage assets (customer base and digital capabilities) of the acquired bank
Solution
To maximize the value of the operation, a coordination office was created to take control of the acquired businesses quickly and effectively, with three areas of action:

  • Prepare the legal calendar of the operation and the pre- and post-closing control plan for each area;

  • Provide support in the execution and deliverables of the Synergies Plan, Customer Retention Plan, Business Plan and Communication Plan;

  • Monitor the execution and reporting of the integration to management.
Benefits to the Organization
  • Timely attainment of pre-closing legal milestones and authorizations for the closing

  • Takeover of the acquired entity (pre-closing and post-closing) in just 8 months

  • Preparation of the necessary deliverables to facilitate Business as Usual, including a communication plan, a talent retention plan, a synergy estimate, an operational risk analysis and a roadmap for platform integration