The Canadians are coming
Once again a Canadian Bank, RBC, is buying US companies. Last week RBC announced that they are purchasing a Washington brokerage firm, Ferris, Baker Watts inc. while they are still in the process of buying Alabama National Bancorp to bolster their retail position in the south eastern United States.
With restrictions on growth in their home market the big Canadian Banks find the best path to growth is south of the border.
Whenever these acquisitions take place it is essential to merge operations and share customer information quickly to deliver the best service to existing and potential customers. This could be an unsettling time for a customer and an opportunity for them to shop around but good, clear and timely communication is the best way to retain customers during a merger or acquisition. It could even lead to a stronger relationship with more selling opportunities. You can read our ideas here, but what has your experience been?
