Two German financial services providers with several thousand employees agreed to merge. Our challenge was to not only create a new organizational structure but also determine the right size for the new company “on the side”. We also supported the implementation of this project, with around 50% of employees across all locations moving to new offices.
How do you carve out a division of a financial services company while it continues to operate, particularly when you have no idea who will buy it? As a fast process was the top priority for our client, we started at the very beginning of the M&A process by preparing for the carve-out. We separated the IT landscapes, migrated data and drafted service agreements for operations after the deal was closed. The success of this ‘open heart surgery’ on the client’s business is evident from the way that that heart has been beating for us ever since.