Client: A Leading European Bank


The Challenge

  • 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.

The Solution

  • 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.

The Result

  • 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.