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Spotlight

Connecticut-based mid-cap bank demonstrates how to do a merger the right way

Value

160% of portfolio savings goals

Location

Northeast U.S.

A fresh, forward-looking start

JLL teams worked closely with Webster to accomplish goals that weren’t directly related to real estate, including a successful corporate re-brand. Within a week after the merger closed, the combined company went through a multi-million-dollar re-branding effort that transformed the look and feel of portfolio properties. Together, JLL and Webster devised and executed a well-orchestrated plan that allowed them to rebrand all of the Sterling bank branches to Webster simultaneously over the course of a weekend. The re-brand coincided with the relocation of the bank’s headquarters from Waterbury to Stamford, Connecticut.

In addition to a new look and a new home, one of Webster’s goals was to empower their employees with more choice and workplace flexibility by supporting hybrid work styles and flexible seating arrangements. JLL’s Workplace Experience Solutions and Change Management teams laid the groundwork for the bank to be able to adapt to workplace changes quickly, helping Webster compete for talent. Modern professionals value flexibility and choice in how they work, as well as technology solutions to help them make a seamless, stress-free transition from working remotely to being in the office. To deliver that need, JLL helped Webster room booking software.

“JLL is more than a real estate company. I think of them as a tech company”

- Mike O’Connor, Webster Bank