ADVISOR | July 2025
They understood it even in Frankfurt: the ECB gave its approval to this year’s public exchange offer, placing among its constraints the need to establish adequate retention policies for key professionals at the banks involved in the current risk.
Professionals, whether employees or financial advisors, are the true fulcrum of client relationships and therefore the reason for the success of the bank they work for.
While 76% of bank employees at the banks involved expressed widespread concern about the current risk, especially the uncertainty and, in some cases, the length of the process, further considerations emerge as the outcome of the public exchange offer approaches.
51% of financial advisors see an economic opportunity in a potential merger with another entity, precisely because of the expectation that the potential acquirer will implement retention policies to retain and build loyalty.
The fact that the financial advisor of 2025 is no longer a free agent, as in the past, but a professional who works in a team with other colleagues and managers, makes the decision to change sides no longer just an individual choice but a collective one.
Analyzing network changes over the last three years, we discover that today, more than in the past, it’s increasingly a group of financial advisors who are moving.
This generates a domino effect that’s certainly very positive for the recruiting bank, but decidedly detrimental for the bank that experiences it.
The situation is different for bank employees, especially those without a consolidated client base, with an average age of 50 and therefore far from retirement: for these employees, the fear of job loss and demotion in the event of a merger with another bank is widespread (79%).
Interestingly, 64% of bank employees approaching retirement age see the prospect of early retirement in the event of a merger with another bank as an opportunity rather than a fear.
So, it would seem that, beyond business plans and synergies, not all risk is bad for the most disillusioned professionals; instead, it represents an opportunity to enhance their careers.
Beyond the financial aspects, however, there are other intangible factors, such as a sense of belonging, loyalty to one’s bank, and trust in management, which have significantly strengthened this year: networks and banks more or less directly involved in the current risk have closed ranks like never before.
Conventions and meeting opportunities have transformed into genuine moments of togetherness, reawakening a desire for leadership and a healthy proactivity, not only to strengthen team spirit but also to stimulate change within the entire industry, especially in light of potential losses of existing revenues.
The success of all ongoing operations will depend on the ability of bank employees, private bankers, and financial advisors from both the acquired and the acquiring companies to work together as a team; this will also apply to the new businesses that will inevitably emerge and to those who decide to take on new challenges.
The winner will be those who put people first, giving equal importance to the satisfaction of professionals and customers, placing it on a par with that of shareholders and top management.
Things that aren’t always so obvious and widespread in reality.
Nicola Ronchetti