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TD Magazine Article

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Rapid Integration Eases Bank Reinvention

Published Mon Aug 01 2005

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This article reports that when Regions Financial Corp., a top 15 U.S. bank headquartered in Birmingham, Alabama, acquired Union Planters in early 2004, the new company faced postmerger integration challenges that were less intense than one might expect. The integration promised to be smoother because of a common work culture based, in part, on a comparable regional footprint. Yet, the merger presented its own set of challenges from an operational standpoint. For Regions, successfully reinventing the company after the acquisition, and ensuring that the most critical workers performed at the highest possible levels after the cut over to new processes and systems was the result of a unique merger learning program. Early in the process, the two companies created a full-time team of executives and management that was tasked with reviewing all major systems, processes, products, human resource policies, and so forth from both companies, and choosing the best-of-breed aspects to preserve in the new company. The merger team brought in Accenture Learning as the integration provider a year before the merger was completed to work with them to fashion a single package of systems and processes.

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Rapid Integration Eases Bank Reinvention

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