Magazine article ABA Bank Marketing

Managing the Merger Aftermath

Magazine article ABA Bank Marketing

Managing the Merger Aftermath

Article excerpt

We read about another major bank merger almost every week. In this market environment, no bank is immune to the possibility of a merger or acquisition. Unfortunately, we, the bank employees, are among the last to know what is coming. There is a feeling of powerlessness when rumors circulate about a possible merger. Learning how to protect ourselves will give us a head start when an announcement is made.

How do I preserve my job? You can't. You probably won't know anything with certainty until it's too late to influence it. One thing is almost guaranteed: In a merger, there is no need for two marketing departments, and typically the new structure will not require all of the employees. The best thing you can do is to perform at your best regularly, so that your professionalism and strengths are immediately known when management decides who stays.

Avoid extremes

How do I act and react when all of this is going on? You want to act "business as usual." People sometimes make the mistake of going to extremes. They become either invisible or aggressive. You don't want to shrink into the woodwork, but you don't want to be in your management's face. Be professional, do your job and minimize the gossip. The rumor mill operates full steam when mergers are going on, and you don't know what's fact or fiction. Hopefully, management will have an open book policy and keep you informed. Unfortunately, it usually doesn't work that way. You may not know the truth until it's a done deal.

How do I present myself to the new management? Know what you want and be able to express this. Think about the new bank, the new marketing department and the new manager. How can you best contribute so that you are fulfilled and the bank benefits from your fulfillment? Think about how you can take advantage of new possibilities, new customers, new markets--and how your expertise can be best applied. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.