Making major inroads into U.S. banking, the Bank of Montreal acquired two U.S.-based banks — Marshall & Ilsely and Harris Bank — and then set about combining them to create BMO Harris. This required not only creating a new organizational culture, but also successfully integrating employees from three organizations. A well-planned change management process would be crucial.
Challenge: Integrate employees during a complex merger; align them with new business priorities; create and reinforce a common culture.
Approach: A cultural assessment identified key differences; change inventory established a map for change; the integration team managed the pace of change.
Results: Employees are now able to serve customers from the outset and identify with the new brand and priorities; the change management process can be used for future initiatives.