Bank purchase engagement with Healy Consultants

Bank purchase engagement with Healy Consultants

Healy Consultants will be pleased to find licensed banks on behalf of our Clients by relying on our network of brokers, M&A firms and global banks. Kindly find below a detailed descriptive on how Healy Consultants will assist our Clients to purchase their preferred banking institution:

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  1. Before Healy Consultants proceeds with the engagement, our Client settles a retainer fee of US$10,000 for research of available banking institutions options worldwide, according to the preferences and requirements stated during the engagement planning phase;
  2. Healy Consultants conducts research on banks available for purchase during an average of one month. We will send weekly updates to our Clients detailing information on banks currently available for sale, gathered through our network of affiliate offices and global banks we work with. The deliverable our Clients should expect is a detailed comparison table of available options with the following information: i) expected purchase price of the bank ii) location iii) license type iv) regulator v) regulatory reporting requirements vi) tax rates vii) book value and total deposits/assets under management viii) number and profile of Clients (wholesale and retail) and ix) prudential regulations;
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  4. At the end of the first month, we provide our Client with the comparison table. He will then review this deliverable and decide whether the proposed options include bank(s) meeting their requirements. Healy Consultants will prepare a tailored engagement strategy document for the chosen bank;
  5. Before Healy Consultants prepares the detailed engagement strategy document, our Client will be required to settle a second retainer fee of US$20,000;
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  7. Thereafter, Healy Consultants will prepare the engagement strategy document detailing i) bank purchase procedures including bank licensing and SWIFT registration ii) tax implications iii) regulations and compliance (banking, shareholders, directors) iv) complete project plan outlining expected timeframes v) breakdown of total bank set up fees (Healy Consultants, lawyers, government, etc.) vi) recruitment of staff and vii) lease of physical office, amongst other important aspects. The regulatory and compliance requirements will vary depending on the jurisdiction of the selected bank to be purchased. Consequently this step will be completed in an average of one month and may take us up to two months for the more complex jurisdictions;
  8. Our Client signs off the engagement strategy document and pays remaining Healy Consultants’ fees for the scope of services to be provided by our side to complete bank purchase;
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  10. Over the following month, Healy Consultants i) re-negotiates the bank asking price with the vendor and ii) engages independent lawyers, accountants and auditors to complete due diligence and valuation of the bank;
  11. The shareholder and directors of the bank are changed to our Clients’ preferred corporate structure, after approval by the local Central Bank;
  12. Our Client deposits the paid up share capital, according to local Central Bank’s capitalization requirements;
  13. If required, Healy Consultants’ post bank purchase services can include application for SWIFT membership, negotiation with international banks to secure correspondent accounts, application to issue VISA/MASTER cards and internet banking software implementation.

Contact us

For additional information on our buying/selling bank services, please email us at Alternatively please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal