In your professional experience, when is the best time to institute the overall integration plan after a merger has been finalized? How do you break this plan down, and triage items by their importance? When do you assemble your integration team, and how do you decide who are the key players on the team?
Unfortunately my reply was deleted to entering it again but making it shorter: pre-merger assembly if team; diversity of all forms on the team (age, experience, gender and background) and the team can then triage priorities.
Erin, we now have a full time IMO that is consistently working on M&A aspects. We are still working through lessons learned from the last merger but will be at the ready for the next one at any time. We are usually brought in right around the signing of the LOI to start assisting with Due Diligence and start planning for the integration piece as that is where our main focus is. We will work through our plan builds and team assignments so that come Day 1 after the merger is “closed” we will be hitting the ground running. We have had to wait until that Day 1 as that is usually when we get full access to data and products.