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Bank Mergers and Its Effect On Your Customer Base: Minimizing the Impact on Customer Attrition
LIVE webcast
Carl Carande
Principal, Advisory and Banking and Finance
KPMG LLP
Carl Carande is the KPMG Industry Lead for Banking and Finance in the United States. Carl has 25 years of Commercial and Retail Banking experience with major U.S. global and regional banks in the areas of Merger Integration, Commercial Product Pricing and Analysis, Productivity Modeling, Process Reengineering and Internal Control Best Practices.
Carl has led teams that have supported all components of post-deal integration execution for numerous top 25 banks. Integration assistance included developing and supporting the integration governance structure, executing critical and complex transition components, customer experience development support, assessing integration risk and providing mitigation strategies to lower risk level as well as reporting on integration status to executive management, regulators and board of directors.
Carl has worked with several top tier banks in re-designing front and back office processes to take advantage of the latest technology and industry practices to establish leading customer experience practices that have generated incremental revenue while driving efficiencies in the operational delivery of the products and services. This work has been conducted in various segments including: Corporate Cash Management, Merchant Services and Day 1& 2 Operations Additionally, Carl has built a start-up internal control unit designed to identify, prioritize, and mitigate operational and financial risk. This effort required process redesign and automation in order to reduce risk while simultaneously supporting a highly client focused consumer banking strategy.
Tim Phelps
Managing Director
KPMG LLP
Tim Phelps is a Managing Director in KPMG LLP’s Southeast Advisory Services practice based in Charlotte, NC. Tim has 15 years Financial Services experience, specializing in merger integrations both while in industry with a Top 10 Global Bank and with KPMG over the past 10 years.
Served as the engagement manager on numerous large scale bank mergers where we provided an objective assessment on the integration tools, processes, reporting, peer benchmarking, customer/associate readiness assessments, while identifying key issues and risks so executive management could make real time course corrections where necessary.
Managed a Customer Experience effort during a large scale integration to design, implement and execute the process. The project focused on identifying, measuring, communicating and mitigating customer impacts resulting from the integration across all lines of business.
Led multiple projects working with Bank management to develop and implement merger reporting focusing on key customer and employee metrics to monitor both positive and negative trends during the integration
Designed, built and supported the Merger Program Office for a regional bank integration. This effort required the development of integration processes, tools, and templates and constant coordination with the Lines of Business and Support Areas during the Merger’s planning and execution phases.
Supported Lines of Business in the execution of merger activities including but not limited to: System Selection, Target Operating Models, Integration Plans, Business Requirements, Testing and Implementation
Jamie L. Boucher
Partner, Financial Institutions Regulatory Group
Skadden, Arps, Slate, Meagher & Flom LLP
Jamie L. Boucher is a partner in Skadden’s Financial Institutions Regulatory Group with a principal focus on financial institution mergers and acquisitions, regulatory and enforcement matters. Ms. Boucher’s clients include U.S. and non-U.S. banks, thrifts, mortgage lenders, insurance, securities, money service businesses and investment companies. She is part of the Skadden team advising clients on various aspects of the Troubled Assets Relief Program (TARP) including the contractual, corporate, regulatory and other aspects of issuing preferred stock to the U.S. Treasury Department under the Capital Purchase Program, and the sale of assets to Treasury under the Troubled Assets Relief Program.
Ms. Boucher regularly represents financial institutions on compliance and enforcement matters including examinations, internal investigations, voluntary disclosures and the resolution of administrative and enforcement proceedings involving federal and state regulatory agencies. With extensive experience
in anti-money laundering and economic sanctions compliance matters, Ms. Boucher has counseled domestic and foreign clients on numerous issues arising under the BSA, OFAC and related laws. She has worked extensively with clients to design and implement compliance programs and monitor and improve corporate compliance posture.
Ms. Boucher is a frequent speaker at seminars on financial institution compliance and regulatory issues, mergers and acquisitions, and enforcement matters.
She was selected for inclusion in Chambers USA: America’s Leading Lawyers for Business 2008.
Before joining the firm, Ms. Boucher worked for 12 years in government and the private sector on matters involving international trade and investment regulation. She served as the legislative adviser for international trade and foreign policy to former U.S. Sen. Frank H. Murkowski; as an adviser to the American League
for Exports and Security Assistance on trade and national security issues; and as a committee staff member on the U.S. Trade Representative-Department of Defense trade policy advisory committee, the Defense Policy Advisory Committee on Trade. Ms. Boucher currently serves as the chair of the American Bar Association Banking Law Committee, Subcommittee on Mergers and Acquisitions. She is a member of the American Council of Young Political Leaders.
Timothy R. McTaggart
Partner
Pepper Hamilton LLP
Timothy R. McTaggart is a partner in the Washington office of Pepper Hamilton LLP. He focuses his practice on bank and financial services regulatory matters. He also assists financial services clients on transactional and enforcement issues. Earlier in his career, Mr. McTaggart served as the Delaware State Bank Commissioner (1994-1999) and as counsel to the U.S. Senate Banking Committee (1991-1994).
Mr. McTaggart has represented clients before the federal bank regulatory agencies, including the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision and the Board of Governors of the Federal Reserve System, as well as various state banking departments across the country.
Recent assignments include:
Providing regulatory assistance in connection with the Pennseco Financial Services Corporation acquisition of Old Forge Bank • representing an investment entity not regulated under Section 2a-7, before the Federal Reserve System to extend the scope of the MMIFF Lending facility to such investment entities • providing advice to a financial institution on executive compensation limits under TARP, the Emergency Economic Stabilization Act of 2008 (EESA) and the American Recovery and Reinvestment Act of 2009 (ARRA)
Assisting an investor group register a hedge fund family of funds to bid on assets offered by the FDIC • assisting a client comply with state escheat law issues on a 50-state basis • assisting a client comply with Delaware bank franchise tax requirements • assisting a creditors committee in connection with banking issues arising in a savings and loan holding company bankruptcy • assisting the independent directors of an audit committee in connection with issues arsing in the sale of the banking company • assisting clients with respect to custodian issues under federal and state law related to the operation of health savings accounts.
As the Delaware State Bank Commissioner, Mr. McTaggart supervised and set policy for retail banks, trust companies, wholesale banks, credit card banks, saving banks, mortgage companies and other financial services companies with operations in Delaware and across the nation. He also was responsible for administering escheat laws and the bank franchise tax applicable to all financial institutions operating in Delaware. Additionally, he served as a member of the Delaware Economic and Financial Advisory Committee (DEFAC), which advises the Governor on fiscal policy, including the state’s balanced budget requirement.
Bank Mergers and Its Effect On Your Customer Base: Minimizing the Impact on Customer Attrition Live Webcast
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