9th May 2016

When will Barclays rebrand to Martins Bank

We hear that RBS is to rebrand some 300 of its branches as Williams & Glyn. It is a funny thing with banks, with names changing to reflect the challenges, successes and failures.

We no longer see old established brand names like Alliance & Leicester, Bradford & Bingley, Abbey National, Grindleys, Giro Bank, Bristol & West, Martins, Midland Bank or the British Linen Bank.

Why? 

Rebranding is normally only carried out to reflect the impact of takeovers in the world of banking, with bigger being best. 

It is highly unusual to see a big banking beast like Royal Bank of Scotland (RBS) revert to using the name of a small bank absorbed very many years ago by RBS with origins that go back to Vere, Glyn & Halifax founded in 1753, Williams Deacon & Co founded in 1771 and the Manchester& Salford Bank founded in 1836.

The reason for RBS’s rebrand of some 300 branches was given by David Wheldon (RBS’s chief marketing officer) saying, “We are no longer a global bank with global ambitions to be the biggest”.

Corporations usually change their identity because of bad press, new target markets, new products, mergers, or simply to gain a competitive edge.

Corporate identity is how businesses want clients to perceive their company.  At the very basic level that identity should do the following: 

1.  Portray the image of the firm.

2.  Establish a positive first impression.

3.  Build a preference for your company.

4.  Educate your client as to who you are.

5.  Keep you in the top of your clients mind.

6.  Help create new business relationships.

Lessons on branding can be learned from iconic non banking brands that have stood the test of time such as Coca-Cola, IBM, Mercedes, Ford, Levis and McDonald’s.

These businesses quickly realised their visual identity should become the emblem of their businesses, achieved through communication that was simple, powerful, could be easily reproduced and recalled by consumers and a general audience. 

Henry Ford once said that you can have any colour car you want “as long as it is black”. 

Janis Joplin sang “Oh Lord, won't you buy me a Mercedes Benz.

RBS’s David Wheldon went on to say “We are now a UK and Ireland focused bank with a strong bank of brands and an ambition to be the best bank for customers”.

Doesn’t have quite the same buzz does it?

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