Why an independent former banker
Most integration delays come from the banks, not from the deal team. Federico Lleonart worked in cash management at J.P. Morgan and Barclays, where client onboarding, mandates and account changes are handled.
What has to be ready for day one?
Bank mandates and signatory lists must reflect the new owner and the new board. Without them, banks can delay payments or changes until the documents arrive.
Board resolutions, specimen signatures and updated authorities are prepared before close. Each bank receives them in its own required format.
Why do KYC lead times matter so much?
A change of ownership triggers new know your customer reviews at every bank. Banks request beneficial ownership details for the new structure, often including the fund.
These reviews take time and cannot be rushed. Starting them before close protects the timeline.
How do transition service agreements affect treasury?
In a carve-out, the seller often keeps running bank accounts and payments for a period. The buyer depends on the seller's systems and staff during that time.
A clear TSA exit plan lists every service and its replacement. That avoids extensions that cost money and delay control.
What about change of control clauses in facilities?
Credit facilities, guarantees and cash pooling agreements often include change of control clauses. They can require lender consent, repayment or termination at close.
We identify these terms early, so the financing plan accounts for them.
How are banks consolidated in the first 180 days?
We set the target bank panel from the needs of the combined group. Accounts are then migrated in an order that protects payroll, suppliers and collections.
FIRMA Advisory sells no banking products and takes no commissions from banks. A senior treasury consultant who knows bank onboarding from the inside leads the work.