GOVERNMENT RELATIONS: FINANCIAL SERVICES

Case Study 1: Foreign Branching Legislation
Case Study 2: Bank Mergers
Case Study 3: Taxation

BANK MERGERS

challenge

Four of Canada's six major banks proposed two mergers that, if approved by the Federal Government, would have reduced the banks to four and significantly altered the shape of Canada's banking sector. A bank opposed the proposed mergers. It was unclear how the Government would react to the proposed mergers and whether the public could be effectively mobilized to oppose the mergers in light of the resources the merging banks would marshal to support their plans.

strategy

We provided government relations and communications counsel to the bank opposed to the mergers throughout the bank merger debate. We provided the Bank with critical back channel intelligence on the Government's disposition towards the mergers. We represented the Bank in ongoing discussions with key federal regulators, senior officials of the Department of Finance, influential federal Members of Parliament, ministerial staff advisors and the Minister of Finance. We helped the Bank develop a 3public interest2 case against the bank mergers and helped position the Bank as the leader of the opposition to the proposed mergers. Our work helped to galvanize active opposition to the mergers from consumers, small business and other stakeholder groups concerned about reduced competition, reduced services and higher costs. In addition, we facilitated behind-the-scenes discussions between government decision-makers and key merger opponents from the corporate sector who were hesitant to voice their opposition publicly. We helped develop key messages and communications materials for various target audiences, including government decision-makers, third party allies, the media and the general public.

results

The Government refused to approve the proposed mergers on the grounds that they were not in the public interest.