While the merger was successful there was still a risk the “new ANZ” brand might not live up to its promise and that staff, customers, stakeholders and the public would gradually come to dislike it. Pre-merger research indicated that more than 30% of The National Bank customers would reluctantly move to the new brand and make a judgment over time. The news media would also be looking for any sign that the merger hadn’t worked. If their suspicions were proved they would label it a failure, creating a downward spiral of bad publicity.
A follow-up strategy and plan was, therefore, needed so stakeholders could believe they could bank on the new ANZ. This entry looks at the strategy and plan implemented by ANZ Bank New Zealand’s Corporate Affairs team to lock in the gains made by the successful merger in the critical period immediately after the change.Download