This case provides students with an abridged version of the Offering Circular provided to investors for the proposed merger of the Caribbean operations of two international banks. Taking the perspective of an investment advisor, students are asked to evaluate the proposed merger and make a recommendation to the existing shareholders regarding how they should manage this investment going forward (i.e. sell or hold the shares in the new company). Students .....more

The merger of the Caribbean holdings of Barclays Bank Plc. and the Canadian Imperial Bank of Commerce (CIBC) is going ahead, and the reality of integration of very diverse systems and procedures has to be faced. The case deals with understanding the current situation in terms of existing policies and designing policies that would be acceptable to employees from both banks in the organization - FirstCaribbean International Bank - which would be created .....more

At the end of 2001, the Canadian Imperial Bank of Commerce (CIBC) and Barclays Bank PLC were in advanced negotiations regarding the potential merger of their respective retail, corporate and offshore banking operations in the Caribbean. Some members of each board wondered whether this was the best direction to take. Would the combined company be able to deliver superior returns? Would it be possible to integrate, within budget, companies that had .....more

The Canadian Imperial Bank of Commerce (CIBC) and Barclays Bank PLC have signed an agreement to combine their retail, corporate and offshore banking operations in the Caribbean to create FirstCaribbean International Bank. In principle, it appeared that both parties were agreeing to a combination of their assets to form a new entity, in which case a new holding company could be constituted to absorb the assets being merged. Alternately, as Barclays .....more

FirstCaribbean International Bank was the new banking entity created from the combination of the Caribbean operations of two foreign banks, Barclays Bank plc of the United Kingdom and headquarters in London, England and CIBC - formally the Canadian Imperial Bank of Commerce - of Canada and headquartered in Toronto, Ontario. A marketing team was formed with the specific responsibility of developing the marketing function and the brand strategy, as .....more

The Canadian Imperial Bank of Commerce and Barclays Bank PLC were in advanced negotiations regarding the potential merger of their respective retail, corporate and offshore banking operations in the Caribbean. Currently there are four systems in operation in the region. All are carry-overs from the pre-merger operation of the bank. Each of the systems has different pros and cons consisting of degree of fit with the organization strategy, likely impact .....more

This is a descriptive note of banking in the Caribbean region. It illustrates the complex and dynamic environment in which banking takes place in the region, and it serves as a background paper for the series of cases associated with the formation and operation of the FirstCaribbean International Bank.