Talent Trade Tidbit - Mergers, Acquisitions, Chaos, and Opportunity

M&A got you spooked? No need to fear. In fact, a little shake-up may be just the thing to stir up some unexpected opportunities...

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Episode Transcript

(00:00):
Hi, this is Stephanie Maas.

(00:01):
What I wanna talk about today is kind of an excitingcycle, if you will, that we often see in banking.
And that's the cycle of mergers and acquisitions.
What is so fascinating to me is ever since 2009 and that unbelievabledownturn in the market, m and a amongst banking has been incredible.

(00:23):
A lot of it, unfortunately, was for not great reasons.
But this time it's for some really great reasons.
Instead, this time around, a lot of what we're seeing is m and abased on growth banks, buying banks to get into new markets for them.
So what exactly does that mean for you?
Here's my advice.
If you find yourself in the middle of a merger orbeing acquired, or you're actually the acquiring bank.

(00:50):
Couple questions you wanna ask yourself.
Number one.
Do I want to work for the acquiring bank?
You didn't sign up to work for them, but you know what?
They're one of their Your competitors, you should know them.
So knowing what you know, do you know enough to know if you want to go work there?
Second thing, you have to ask yourself.
I. Is duplication of job competition for job.

(01:12):
Look at your organization, look at the job you do.
Look at whoever's acquiring you or whoever you're merging with, andwho do they have doing that job and how do you stack rank against them?
For a lot of us, we actually do a lot better job, sowe're gonna be fine if there aren't any politics involved.
You gotta know.
Either way, you need to know the answer.
Third category, our question is, should I just go into a wait and see mode?

(01:36):
I know the acquiring bank, they have a good reputation.
I know who does what I do there or they don't have anyone that does what I do.
I think there's some value that could be added.
I'm gonna go in a wait and see mode.
I actually don't disagree.
But I do think you need to be smart about it and you should always have a backup plan.
'cause you just never know when all of this happens.

(01:59):
It absolutely creates chaos in the market.
For most people when they hear the term chaos, it has such a negative connotation.
But I really wanna encourage you to think differently.
Instead of hearing chaos and be thinking negative, I want you to hear chaos.
Think opportunity.

(02:20):
One of the most fun parts of my job is being able to work a specificniche and talk to the same people year after year after year.
I get to watch them develop professionally.
I get to watch banks grow and do really cool, fun things.
I know that makes me sound a little dorky, but that reallyis part of the fun of my job and working such a small niche.

(02:45):
So let's challenge ourselves to adopt the mentality that chaos.
Opportunity.
For some people, it's an opportunity to grow internally and getfaced with new good challenges they otherwise wouldn't have.
For some folks, it's the kick in the butt.
They needed to go find something else because they really weren't happy in that current situation.

(03:08):
Whatever it is for you, trying to find the good and the chaos.
Because I think if you do look, you'll be surprised how many opportunities are in chaos.