Retirement Operations Mergers, Acquisitions, and Consolidations

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• Given the frequency of Retirement entity mergers, acquisitions, and consolidations, Saluti Cahn has assisted in numerous projects of this type. Saluti Cahn has become expert in identifying and resolving “receiving entity” procedural-level operational gaps and “new” Client-specific requirements.

• Saluti Cahn begins a Retirement operations consolidation project by creating procedure listings to inventory, compare, and analyze procedures at all receiving/sending entity locations.

• After comparison of Retirement operations procedural inventories, “new” unique procedures are identified and then analyzed for the receiving entity.

• Saluti Cahn uses short procedural synopses for quickly identifying and resolving consolidation gaps and Client-specific requirements.

• Saluti Cahn uses these short synopses to facilitate sessions with receiving/sending entity staff for deeper analysis, gap/Client-specific requirement identification, and issue resolution.

• Saluti Cahn manages the identification, documentation, resolution, and tracking of all consolidation gaps/issues. Dr. Saluti and/or Marjorie Cahn personally conduct all consolidation sessions with receiving/sending staff.

Advantages of Using Saluti Cahn

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Saluti Cahn strategically limits the number of projects accepted, enabling the principals, Dr. Dean Saluti and Marjorie Cahn, to be at the Client sites working with their staff at all times. Dr. Saluti personally conducts gap analysis. Marjorie Cahn personally reviews and edits completed procedural synopses. Dr. Saluti and/or Marjorie Cahn personally conduct Gap Resolution sessions.

Examples of Retirement Operations Mergers, Acquisitions, and Consolidations Projects:

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2008:  Pentegra Retirement Services

Per Saluti Cahn recommendation, Pentegra acquired its competitor, RSGroup. Saluti Cahn performed a Consolidation Gap Analysis, and several hundred gaps were identified and resolved through an analysis of hundreds of procedures from both entities. Documentation was developed for the receiving entity (Pentegra) staff retraining.

Reference: Gwen Burroughs (914-821-9430)

2006-2007: Lincoln Financial

Saluti Cahn created procedures for a Lincoln Recordkeeping facility located in Portland, ME. Then, the Portland facility was closed down and these procedures were utilized for retraining of Lincoln Fort Wayne, IN staff as the receiving entity for the Portland close-down. Saluti Cahn completed a project at the Arlington Heights, IL Lincoln Financial facility in which selected procedures, such as Distributions and Loans, were dissected and analyzed in order to create functionalized Units. Prior to Saluti Cahn’s efforts, these procedures were performed by Relationship Managers and were not standardized or documented. Functionalized operational Units were created in Arlington Heights in order to then move these procedures during a consolidation to the Lincoln Financial Fort Wayne, IN facility.

Reference: James Racine (260-455-4944)

2005: FASCore Retirement Services

When FASCore acquired EMJAY in Milwaukee, WI, Saluti Cahn was tasked to assist in the acquisition. Saluti Cahn inventoried, dissected, and analyzed EMJAY procedures. Significant efficiencies and controls were implemented, enabling FASCore to immediately increase EMJAY “Balance Forward” Plans from 300 to 3,000. Simultaneously, headcount was reduced by 25%.

Reference: Darlene Soderquist (414-906-2989)

2003-2004: Wachovia

Saluti Cahn performed a Consolidation Gap Analysis for Wachovia’s acquisition of PFPC. Over one thousand gaps were identified and resolved through an analysis of hundreds of procedures from both entities. Documentation was developed for the receiving entity (Wachovia) staff retraining.

Reference: Angie McDaniel (704-590-8771)

2003: BISYS

Saluti Cahn performed a Consolidation Gap Analysis for the BISYS assumption of the outsourced US Bank Retirement operation. It should be noted that US Bank Trust was already a Saluti Cahn Client. Hundreds of gaps were identified and resolved through an analysis of hundreds of procedures from both entities. Documentation was developed for the receiving entity (BISYS) staff retraining.

Reference: Shannon Kelly (215-648-4811)

Serving the Nation’s Banking and Financial Services Industry since 1978

Contact: Marjorie Cahn | 617.285.6564 |   This e-mail address is being protected from spambots. You need JavaScript enabled to view it