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Bank mergers shake up trade finance
10 September 2009
The merging of two institutions can be a testing time for all involved. It can be a shock to the existing systemand it can also provide a jump start to a tired institution. OliverO’Connell investigates what effect some recent mergers have had on the trade finance teams concerned.
Read more:
bank merger
bank acquisition
trade finance merger
credit crisis merger
transaction banking trade
Wells Fargo Wachovia
Bank of America Merrill Lynch
Standard Chartered American Express
RBS ABN AMRO
This article appears in the September 2009 print edition of Trade Finance under the title Playing with power
In an ideal world the merging of two banks would be a simple process of marrying together two complementary institutions allowing a significant cross-sell, improved footprint and renewed purpose. The nightmare scenario is rather like stitching together the constituent bits of Frankenstein’s monster and hoping that the shock to the system is enough to bring it to life.
There have been a number of high profile bank mergers involving institutions with a particular prominence in trade finance. Some have been slow and considered moves, others opportunistic as a result of financial or economic crisis. Some are memorialised only in name, while others are still in process. Each has also presented different challenges and synergies.
Wachovia will be confined to the past come March 2010 as the process of merging with Wells...
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