Merger is wonderful, true, but only for a small number of people. For most it is not.
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Very much could end up like that other North Carolina bank - First Union screwed up the Corestates merger so bad that they had to buy a smaller Wachovia Bank to use their name because they had an excellent reputation.
They will continue to run the scam of a "Great Merger" until they are paid their bonuses and then will trim the bank down to a pretty sellable package to and even bigger bank. The point isnt to help communities and employees, its to make money off the companies to then sell again for more money at the top. I give Truist less than 10 years.
@11na - Bingo! The executives are duct taping this disaster with layoff-funded share buybacks and dividend increases just long enough for their huge “merger success” bonuses to hit. I would guess their primary worry now is timing. With client service and relationships apparently deteriorating everywhere, when do the cracks become too large to cover with “merger accounting” spackle?
Simple, they are being well compensated and incentivized to make this merger happen. The success or failure will be determined years from now whether this leadership is still in place or not. Once the integration is completed watch for who moves on and who stays. A lot can be learned from this. If you’re still around at that time come back here and tell your “teammates” how things are going!