Hello Mr Burgess,
I suppose it was only a matter of time, before one of these operations acquired the other.
In the short to medium term, the focus will be on identifying synergy.
My expectation is that Pepper will be vacating their offices on Hatch Street, Dublin in time - a property that could easily be sub-let, in the current times.
What it means for Pepper's commercial lending arm will be interesting. I assume it will be closed down.
Likewise, I wonder what will happen to loan portfolios where Pepper have some form of "skin in the game".
Hopefully there won't be significant job cuts as a result of this transaction, but I suspect that there will be some.
I can't see how it will impact on people dealing with Pepper given the various protections that are in place. However, that said, I expect that a lot of staff in Pepper will have concerns for their futures, so may not be terribly proactive in the coming weeks and months.