Merger Challenges Quotes

Let's be honest: the implementation of the United and Continental merger has been rocky for customers and employees.

You can't merge six banks and think that nothing will happen.

Usually, the first three months post acquisition are up and down. The acquirer and the acquiree are trying to figure out how to interact. The founders of the acquiree are usually tired from the deal process and adjusting to their new reality.

I've been through a couple of mergers - they're not that fun. And it's easy to lose your focus on this grandiose mission you established for yourself as an independent company.

Multiple mergers can be challenging because people come from different backgrounds.

In any merger, the biggest challenge is always integration of human resources because the people who are coming in have a lot of apprehension.

In any merger, when you have large organisations coming together, there will be challenges in terms of culture.

A merger is hard to pull off under any circumstances. It's harder when everybody is against you.

At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.