近幾年來的台灣，成立金融控股公司之風盛行，各銀行間為求提高經營績效，合併、釋股等方式大行其道，在銀行相互合併的情況下，不論是新加入戰場之挑戰者，或是既有市場業者，如何建立消費者心目中對其之新印象、或維持舊有良好形象、以維護顧客忠誠度皆是當前重要課題。 本研究之目的在於探討銀行在進行合併之後，針對企業形象之重塑所採行的策略，以及探討消費者對於合併前後的銀行企業形象認知有何差異，最後根據兩造之研究結果，建立一完善型塑企業形象之模式，提供未來進行相關研究者參考。本研究採個案研究法，以國泰世華銀行作為研究對象，在企業面的部分，以次級資料的收集，分析其合併之後在企業形象上所採行的策略；在消費者的部分，則以問卷調查方式，了解消費者對於企業形象重視度及對合併前後企業形象的認知有何不同。 研究結果發現，在企業體的部分，就整體方針來看，國泰世華銀行所採行的是以國泰銀行為主的「單一型」企業形象策略，但在產品及活動部分，則是採取延續雙方既有優勢的「互補型」策略；至於消費者部分，透過問卷的整理得知，消費者普遍對於合併後的國泰世華銀行企業形象滿意度有「提升」之情況，且以「機構形象」與「功能形象」滿意度提升最為明顯。另外，本研究認為企業合併後，應透過外在形象辨別度、形象獨特性、顧客信賴度、加值服務等有效的形象差異化建立機制，型塑出與眾不同的企業形象，達到出奇制勝的效果。 本研究建議企業在合併之後，應建立完善的視覺識別系統，並妥善運用合併後所具備的硬體設備優勢；再者，可利用年輕族群重視企業形象之特性，建立其對企業的忠誠度；最後，如能定期針對消費者做意見調查，除可得知消費者之反應外，也可依此建立資料庫，作為未來規劃產品、服務、活動時的重要參考。

The merger integration process in one of the most critical stages of the deal, and getting a good price is important, but not as important as making sure the deal works. There have been several theses discussing the merger process as well as the importance of post-merger integration, focusing on culture melding or financial system synergy. This study focuses on the post merger integration process of a subsidiary of MNC in Taiwan. The parent company in the past few years have acquired two MNCs and experienced two large global scale integration processes in which the Taiwan subsidiary followed the HQ directives to undertake acquisition integration of the two acquired firms’ local subsidiaries. The integration of two other local subsidiaries provides a rare opportunity to investigate the post-acquisition process occurred in a MNC context. The finding throws light on the post-acquisition process at the subsidiary level and how the process related to the parent’s global strategy of merger and acquisition. All three subsidiaries involved are mainly marketing and sales organizations. Therefore, this study would focus on the integration of marketing and sales functions. This study chose the case study research methodology because the pharmaceutical industry is the industry the research is most familiar with and there is no other case, either a subsidiary or a company, having experienced similar M&A. The researcher found the case company-subsidiary is a unique one, because of the two M&A it experienced, presenting a rare opportunity for studying M&A at subsidiary level. The case study approach investigated deeply the two complete M&A integration process. The case study approach relies on researching the parent and subsidiary history, academic literature on M&A, and in-depth interview with key executives of the subsidiary to identify key activities and decision points in the whole integration process. The research discovers that successful melding of cultures and integration of product management helps post-acquisition growth, and organizational learning played a key role in utilizing the first M&A experience to accelerate the subsequent merger-integration activities. Key words: Merger/ Acquisition, Post-merger integration, Product management process / The merger integration process in one of the most critical stages of the deal, and getting a good price is important, but not as important as making sure the deal works. There have been several theses discussing the merger process as well as the importance of post-merger integration, focusing on culture melding or financial system synergy. This study focuses on the post merger integration process of a subsidiary of MNC in Taiwan. The parent company in the past few years have acquired two MNCs and experienced two large global scale integration processes in which the Taiwan subsidiary followed the HQ directives to undertake acquisition integration of the two acquired firms’ local subsidiaries. The integration of two other local subsidiaries provides a rare opportunity to investigate the post-acquisition process occurred in a MNC context. The finding throws light on the post-acquisition process at the subsidiary level and how the process related to the parent’s global strategy of merger and acquisition. All three subsidiaries involved are mainly marketing and sales organizations. Therefore, this study would focus on the integration of marketing and sales functions. This study chose the case study research methodology because the pharmaceutical industry is the industry the research is most familiar with and there is no other case, either a subsidiary or a company, having experienced similar M&A. The researcher found the case company-subsidiary is a unique one, because of the two M&A it experienced, presenting a rare opportunity for studying M&A at subsidiary level. The case study approach investigated deeply the two complete M&A integration process. The case study approach relies on researching the parent and subsidiary history, academic literature on M&A, and in-depth interview with key executives of the subsidiary to identify key activities and decision points in the whole integration process. The research discovers that successful melding of cultures and integration of product management helps post-acquisition growth, and organizational learning played a key role in utilizing the first M&A experience to accelerate the subsequent merger-integration activities. Key words: Merger/ Acquisition, Post-merger integration, Product management process