TD Canada Trust

The Business Challenge

Toronto Dominion Bank Financial Group is the holding company for Toronto Dominion, one of Canada's five largest banks. Toronto Dominion Bank Financial Group acquired Canada Trust, the largest of the few remaining Trust Companies in Canada. With the merger, the Retail Banking Division, now known as TD Canada Trust, would become the largest bank in Canada in terms of deposits and span the entire nation with over 1,200 branches.

Due to the regulatory climate in Canada, few mergers of this size or complexity have been attempted in the Banking arena. Neither TD or Canada Trust had significant experience in mergers of this magnitude. In addition, the merger would be highly visible to all constituents including government, shareholders, competitors, customers and employees. It was required that the merger synergies be quickly established, demonstrated, and maintained throughout the timeframe for the operational merger of the two organizations.

How Accenture Helped

Toronto Dominion Bank Financial Group contacted Accenture to help them work through their post merger integration of these two companies. Accenture worked with Toronto Dominion Bank Financial Group in the following areas:

• Set up an Integration Management Office (IMO) to establish and maintain the processes, tools, and standards necessary to manage and control the overall integration effort;
  
  
• Assisted in the development and review of critical integration deliverables including the overall project plan, the integration approach, and the customer/ employee experience approach;
  
  
• Developed and implemented the conversion approach and infrastructure: Command/Control centers, Risk/ Readiness processes, Reporting, and Dress Rehearsal/Testing;
  
  
• Provided critical skills and M&A expertise to adapt Accenture's successful M&A methodology in the TD Canada Trust environment;
  
  
• Assisted in delivering this highly visible integration on time while maintaining merger synergies;
  
  
• Provided the methodology, processes, and tools to effectively manage and control the integration effort;
  
  
• Mitigated risk by having senior Accenture senior executives review key integration deliverables and approaches.

High Performance Delivered

Accenture was able to work with merging companies to tackle large scale and complex merger integration situations. Through our vast experience and expertise, Accenture enabled the merged enterprises to realize their targeted synergies while offering a smooth transition from two separate companies to one company for customers and employees. Working together Accenture and Toronto Dominion Bank Financial Group have been able to obtain the following results:

• Merger synergies have been maintained throughout the integration effort;
  
  
• As the conversion efforts continue, integration milestones continue to be completed on time with minimal impacts to employees and customers. To date, integration activity has been viewed as a success by the media, government, customers and employees;
  
  
• The bank has a reusable set of processes, tools and structure for future integration efforts.

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