Download Bank Mergers: Lessons for the Future by Steven I. Davis (auth.) PDF

By Steven I. Davis (auth.)

Show description

Read Online or Download Bank Mergers: Lessons for the Future PDF

Similar banks & banking books

Storytelling in Organizations: Why Storytelling Is Transforming 21st Century Organizations and Management

This ebook is the tale of the way 4 busy executives, from varied backgrounds and assorted views, have been shocked to discover themselves converging at the thought of narrative as an awfully worthwhile lens for knowing and dealing with businesses within the twenty-first century. the concept that narrative and storytelling can be so strong a device on the planet of corporations used to be at the beginning counter-intuitive.

The Evolution of Central Banks

The Evolution of vital Banks employs quite a lot of old proof and reassesses present financial research to argue that the improvement of non-profit-maximizing and noncompetitive imperative banks to oversee and keep watch over the industrial banking approach fulfils an important and average functionality.

The Microfinance Revolution: Sustainable Finance for the Poor

Worldwide, a revolution is happening in finance for low-income humans. The microfinance revolution is offering monetary companies to the economically energetic bad on a wide scale via competing, financially self-sufficient associations. In a number of nations this has already occurred; in others it truly is below manner.

The Silver Bomb: The End Of Paper Wealth Is Upon Us

The Silver Bomb isn't really a ebook approximately a few predictive monetary philosophy, yet relatively a frank, no-excuses glimpse on the present kingdom of items, and a good, candid, examine logical results. The prestidigitations of primary banking, that have until eventually lately been protected against scrutiny via a cloak of pro-banking cultural bias, are laid naked inside of those pages.

Additional info for Bank Mergers: Lessons for the Future

Example text

The stress is truly overwhelming. Several of our interviewees who were present on the occasion describe graphically the pressure exerted on management and its consultants when the chief executive of a serial acquirer announces to all concerned that the market valuation of his deal will decline by perhaps $30±40 million for each month's delay in merger execution. REVENUE SYNERGIES: THE TRIUMPH OF HOPE OVER EXPERIENCE? Widespread scepticism exists over the ability of banks to generate revenue synergies through mergers.

Dick Kovacevich of Wells Fargo: `In a big merger of equals, it's impossible to do an exhaustive due diligence because of the size and need for confidentiality. e. ' . Scott Moeller of Deutsche Bank: `For practical purposes you do due diligence because you need to find if there are major problems. ' One of the most telling indictments of the value of due diligence comes from a senior banker with one of the major US serial acquirers: In the early 1980s we were babes in the woods in terms of due diligence.

In the case of several banks in our interview series known to have lost market share during the merger period, it was quite difficult to obtain hard numbers. Even in the case of the well-advertised revenue losses incurred in the First Interstate and Core States conversions in the US, figures quoted in the financial press are both contradictory and disputed by management as being exaggerated. Managers are understandably shy about confirming the extent of such a negative benchmark for merger performance.

Download PDF sample

Rated 4.50 of 5 – based on 31 votes