Given that FinanceAsia has just gone through the exercise of re-designing our website -- and soon we will update our magazine -- the importance of branding is at the front of our minds. As David D'Alessandro, the former chairman, CEO and president of John Hancock Financial Services is attributed as saying: "A business based on brand is, very simply, a business primed for success."
Businesses evolve and the brand needs to reflect those changes.
In that vein, on February 6, Calyon is changing its name to Crédit Agricole Corporate and Investment Bank. The new brand reflects the group's commitment to bringing all its business lines together under the Crédit Agricole banner. It also provides an opportunity for Crédit Agricole Corporate and Investment Bank to ratify the strategic decisions it made in September 2008, aimed at focusing on its traditional expertise of meeting its clients' requirements and serving the real economy.
The bottom line is that the new brand aims to strengthen international recognition of the Crédit Agricole name and its business lines.
"This brand change, which comes 18 months after the implementation of our new strategy focusing on serving clients and the real economy, is a major new milestone in our development," said Patrick Valroff, CEO of Crédit Agricole Corporate and Investment Bank.
"It confirms the Crédit Agricole Group's dedication in the area of corporate finance and investment banking, which is to committed partnership alongside our clients -- large corporates and financial institutions -- to help them achieve their plans both in France and abroad."
Advertising campaigns to accompany the launch of Crédit Agricole CIB are underway -- indeed a campaign featuring Sean Connery is on FinanceAsia's website right now. In addition to print and web ads, Crédit Agricole CIB will turn to TV and radio as well. This campaign is a continuation of Crédit Agricole's international corporate publicity campaign, launched in November 2009, which also features Sean Connery.
Alongside its commercial banking activity, the business lines of Crédit Agricole CIB are concentrated around four major divisions, with 13,000 employees serving large corporate clients and financial institutions in more than 50 countries worldwide. The four divisions are: coverage and investment banking, equity brokerage and derivatives, fixed-income markets, and structured finance.