In a best of both combination, it is helpful to have the partners identify values and
practices of which they are most proud. The top teams in a major financial services
merger separately listed cultural elements that they wanted to carry forward into their
combined entity. The “new” firm that emerged emphasized reliable work processesand speedy delivery—strengths that the respective partners brought to the deal. This
activity also highlighted “undesirable” cultural characteristics, such as bureaucracy,
which were present in the premerger partners and were weakened or eliminated in the
process of combining the banks by having transition teams consider them during integration planning.