Client: A Leading European Bank
- Integration of two European financial institutions and transfer to state ownership against the backdrop of the financial crisis and European political scrutiny of the European Central Bank.
- New Senior executive replacing the Executive team who were being investigated for mismanagement and corporate negligence.
- Executive team focused on managing key political stakeholders and financial recovery of assets.
- Demotivated employees and managers facing threat of job losses, being blamed for bank failure by wider public and whose work was being investigated for negligent practices.
- Integration of two different types of financially run businesses with different levels of business sophistication, culture and practices.
- Defined and led the implementation of a new flexible target operating model to enable reduction in headcount and eventual wind down of toxic bank element, post integration.
- Created the integration people vision and action plan with engagement and representation across all levels of both organisations.
- Led engagement sessions with employees designed to have employees from both organisations share their fears, challenges and cultures and take ownership of how to deal with the changes.
- Designed and facilitated workshops for leadership teams to help them integrate and align around the new culture.
- Coached senior leaders to develop strategies to manage their teams through the changes and quickly create team working with integrated team members.
- Developed communication events where employees key fears were expressed and honest updates provided.
- Accelerated delivery of full integration, reducing scheduled time to wind down toxic bank by 4 years.
- Rapid and successful integration delivered synergies that resulted in 45% cost reduction.
- Flexible TOM implemented which resulted in a total headcount reduction of 60%.
- Reduced employee grievances by 80%
- Measured an increase in motivation of 30%
- Merged teams became more focused and results improved.
- Leadership took ownership in communicating to their teams and addressing the fears of their teams.
- Interpersonal conflict between employees reduced.