A Bahamian bank, formerly a subsidiary of a Swiss banking group, requested, as a consequence of its sale to a new shareholder, to implement a fully independent operating platform.
The dismissal of the services provided by its former Swiss Parent Bank and the implementation of a new business and operating model were the key components of this project.
The goal was to lead the bank in the journey of implementing a brand new business strategy, leveraging on the experience of the shareholders in fields of business previously unexplored, through an organic growth as well as the acquisition of new competences and skills.
We have joined the bank already during the sale process, supporting the new shareholder identifying the key, fundamental requirements to be included in the Closing Memorandum, assisting him during the Closing phase and complementing him during the strategy execution initial design.
Immediately before the closing phase, we have designed, negotiated and implemented the split of the BPO agreement in place at the Parent Bank, producing a proposal, accepted by the Boards of the two banks and by the Service Provider, of separation of duties and services.
After the sale, using as starting point the Business Plan of the new independent bank and the business strategy document, we have performed the design of the implementation program and elaborated a project portfolio.
We have been assigned with the responsibility of contacting vendors and service providers and negotiate project offers, producing a final project portfolio implementation plan.
Today the bank is fully operational, with its independent BPO agreement; we have organized and coordinated a training program, in order to improve the processes and tools knowledge.
We are still coordinating some strategic IT projects while we are continuously supporting the Chairman in his business strategy execution and in the implementation of measures to increase banking competences in the areas where gaps exist.