I wanted to share our latest podcast, an interview with Ian Wakeford of the London Stock Exchange Group. LSEG is a serial acquirer of businesses that operate in the ‘weeds’ of the financial services sector, providing technology based solutions for existing challenges, innovating around product set across the capital markets and developing a truly global reach and capability for investors. LSEG has always been acquisitive! Despite a few missteps in […]
Afternoon all, this week Abhay Pande, David Boyd and I talk about some recommended ‘light’ reading for any aspiring transformation director, CEO, or entrepreneur engaging in the Mergers & Acquisition world. We cover everything from applied strategy to behavioural economics and the challenge of change. Have a read, let us know what you’d include on your list, and give us your thoughts. https://theagilegorilla.com/podcast/2023/7/20/11-recommended-reading
Please indulge me for a moment as I look back at the last year following the publication of my book, ‘Save the Silver Bullet…The small steps to successful transformation’. It has been an extraordinary time for me with opportunities to speak to global and local organisations, industry bodies and at major conferences on the drivers of successful transformation. I’ve been fortunate enough to spend some time with wonderful people around […]
This week we talk about the wave of forced mergers in the US. Paul Siegenthaler, Abhay Pande and I talk about the drivers for the current transactions, what are the implications from an integration perspective, and what the future holds. As ever, we’d love to hear from you. Please let us know your thoughts, comments and ideas. https://theagilegorilla.com/podcast/2023/5/19/8-buying-out-the-banks
As part of the new podcast series from the Agile Gorilla Collective, David Boyd, Abhay Pande, Paul Siegenthaler (you can find their bios here https://theagilegorilla.com/collective – they are an impressive bunch of people!) and I talk through the separation of the EY consulting business as much discussed and written about over the past few months. We address both the operational implications, the impact on clients and how to address the human […]
Good morning / afternoon friends, ex-colleagues, family members (!) and random folk who have an interest in the world of consulting and mergers & acquisitions in particular. I’ve been remarkably quiet for quite some time…this is not due to a lack of thought / interesting experiences etc but the development of the next stage in my M&A journey. My new venture, The Agile Gorilla is the result of the above merger. Please […]
A first for iROAM (inarticulate Ramblings of a Management Consultant)! I have asked my co-inteviewer to give his perspective on the interviews we conducted. Abhay Pande made some comments below which I wanted to share with you. My friend Ben de Haldevang and I spent a fair bit of time over the spring and summer of 2016 talking to a number of Asian senior executives, across several sectors, about their […]
East Goes West is a series of podcasts focused on the challenge of Asian businesses coming to Europe and the US. Abhay Pande and conducted a series of interview with senior Asian leaders to understand a little more of the cultural complexity that exists across the Asian landscape, recognise the key differences and start to think about what an Asian owner might expect of a European and American business. The […]
A perspective on the growing trend for Strategic PMOs – what are they and why might you need one
A few years ago I was involved in the merger of two UK law firms, one with a focus on London as its main operating base, the other more regional in its operations. One of the conditions for the deal to go through was 100% approval by the partners. In terms of numbers, we were talking about 124 people. Imagine having a hurdle in a project where, before any implementation […]
For those of you who’ve occasionally stumbled upon my postings, you’ll know that I spend a lot of time writing about the challenges of programme leadership for the post deal integration process, with all its complexities and more importantly, opacity arising from the peculiarities of the situation; lack of access to information, business case based on assumptions which cannot be validated until the deal is completed, limited resources etc. What […]
Let’s start with the fundamental issue. The culture of the business you’re buying is part of the acquisition, as much as any piece of real estate, operating system and customer relationship. It has value! If we consider that the culture of the business acquired is an essential part of the reason for its success, as much as it’s branding, products, operating efficiency, the decision to ‘get rid of’ this asset […]
Everywhere you look these days, seismic shifts are taking place. Whether it is in: the burgeoning M&A marketplace where whole sectors are undergoing the sort of change that used to be once in a generation, or major established organisations declaring transformational intent which is nothing short of revolutionary (for employees, shareholders and analysts) or CEOs, imbued with the private equity spirit, are embarking on radical performance improvement within companies or […]
The more time I spend in consulting the more obvious it becomes; far from corporate terminology being an enabler of understanding, it is in fact a blockage. Anyone whose changed job knows that part of the steep learning process is learning the language. This is as much a part of the culture of a business as are the colour of its walls and the myths and legends that it carries. […]
Fascinating times in the mergers and acquisitions market place with the number and size of the transactions unprecedented since 2007…a remarkable turnaround. What is most interesting is that for the first time in a while, the objective external observer can compare and contrast two very different types of buyers: The corporate European and American buyer whose motivation to do deals has been driven by the following factors: An unprecedented (at least […]
The issues raised in a number of my recent blogs have led me to ask the question, is it better to use the power of the collective or the engagement of the collaborative in complex transformation. The nature of global corporates these days has changed with the increasing visibility, transparency and vigilance generated by regulators around the world. Each of these regulators bring different perspectives and pet requirements…but there are […]
If there’s one consistent message that I’ve heard over the last 15 years of doing post acquisition integration, it’s this: Big deals are more difficult to integrate than small ones Whether it’s the investment bankers / accountants / lawyers / consultants or Heads of Corporate Strategy, this message is probably the one thing that everyone agrees on. Complexity is directly correlated with size…for the following reasons: More people requiring more effort […]
Last week I wrote about the interesting interaction between these three dimensions as three different strategies for implementing change. This week I want to write one particular model of implementation, which I’ve called the ‘Practice makes perfect’ model. As you may remember, the traditional method (in a Western context) looks like this: Let’s now think about some variations on this theme, and in particular what to do when you come across a […]
Many of you will already be aware of my focus on culture in M&A and it seems that it’s becoming more mainstream to talk about these matters.. Note the recent commentary in the FT on Holcim and Lafarge which tries to downplay the cultural dimensions…perhaps part of the problem is a blind acceptance in the media around business case as opposed to delivery capability! http://www.ft.com/cms/s/3/d1cc9938-cbec-11e4-beca-00144feab7de.html#axzz3UcoE3fgH The article below is a […]
I’m working with a client on a transaction in one of the larger markets in Asia. As often happens, the chance to work with some highly motivated and able individuals leads to some new ideas. Whilst in a team meeting, this model came to my mind and I wanted to share it with you. The challenge for any organisation in an acquisition is to understand what the triggers / levers […]
Inarticulate ramblings of a management consultant 