The passage of financial modernization legislation by Congress in 1999 revolutionized the banking industry. The removal of barriers has allowed banks to expand far beyond their traditional roles of collecting deposits and writing loans. At the same time, continuing deregulation and shifts in borrowing and lending patterns has increased competition for fee-based products and services.
The banking industry has turned toward mergers and acquisitions in order to capture market share, increase profits, and stay competitive. Bank executives and stakeholders justify this consolidation by promising economies of scale and cross-selling opportunities. Unfortunately, most bank acquisitions fail to meet merger objectives. Why? Bank acquirers often fail to identify and mitigate financial and operational risks associated with this growth strategy. Consequently, they have difficulty digesting their targets and experience a failure of internal processes, people, and systems.
SummitPoint Management provides deep industry intelligence and comprehensive financial and operations expertise to help all stakeholders in banking transactions mitigate risk and ensure successful mergers and acquisitions. Our experienced professionals help firms assess risks, enhance business value, optimize integration, and improve performance for banking enterprises.
SummitPoint professionals have served a diverse cross section within the commercial and investment banking industries, including (but not limited to):
- Commercial and retail banking
- Corporate finance
- Asset management
- Retail brokerage
- Trading and sales
- Payment and settlement
- Agency services