Mergers & Acquisitions: Cost Savings Through Rapid Integration

Mergers are always an interesting topic in the financial industry. Banks and brokerages have continually combined over the years, hoping to find the perfect match of clients, staff, technology and products. All too often, however, technology is never integrated and two separate IT organizations run side-by-side for years. Integrating technology from two separate companies is no easy task, but if done correctly, the cost and operating savings can be enormous. For instance, when Citi Smith Barney and Morgan Stanley announced their brokerage joint venture, it resulted in an estimated $1 billion savings from technology integration.

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