Divested Business

The Problem

This company's executive management determined that a significant portion of its business – representing $5 billion – should be divested in a very short timeframe.

And the remaining Company must be a viable, functioning entity.

The Solution

Carolyn Picciotti facilitated team efforts:

• Implementation plan was developed and executed, dividing:
• Loan portfolios
• Deposit holdings
• Branch office facilities

• IT management provided data analyses and reports to support negotiations and subsequent data conversion

• Customers and employees were kept informed, and their many questions and concerns were answered promptly, courteously and accurately

• Public Relations communications were critical for positive marketplace perceptions, and these too were part of the project plan

• Legal negotiations and documentation were required and provided at every level

The Result

• $5 billion divestiture was completed successfully within six months

• Employees remained fully-informed, and there was remarkably little disruption to customers and operations

• Project was completed on time and within budget

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