Advisor | June 2023
The world of financial consultancy is ever changing. One of the clearest indicators of its constant evolution is the development of the brands of its protagonists.
The increased market share of the upper affluent and private segments in financial networks as compared to traditional banks as well as the consolidation of the sector have had a significant impact also on corporate branding strategies.
As of January 2024, CheBanca!, the bank of Gruppo Mediobanca, is going to change its name to Mediobanca Premiere. The announcement was made on the occasion of the presentation of the 2023-2026 strategic plan, evocatively named One Brand One Culture.
The change was not insignificant, considering that CheBanca! was born in 2008 as a digital bank, with a very distant branding from the iconic Mediobanca.
Recently, another mega brand has entered the Italian market, Zurich Bank. In Italy, Zurich Bank will rely on its consolidated international fame, strengthened by a communication campaign dedicated to its network of financial advisors.
Allianz Bank has repositioned its brand by enhancing, more than in the past, their belonging to the Group. And they are right, since the Allianz brand is the first among global insurance brands with an estimated value of nearly 39 billion euros.
Fideuram, an iconic brand of financial consultancy, has accomplished something that would have been unimaginable only a few years ago. They collected under their historical brand three networks of financial advisors and Intesa Sanpaolo Private Banking.
Fineco was born in 1982 and moved from Banca Popolare di Novara to Bipop Carire, and then to UniCredit. Today, Fineco is one of the most important FinTechs in Europe, listed in FTSE MIB. Fineco is the first online broker in Europe, and has become synonym of both financial consultancy and digital innovation.
Moreover, three companies belonging to traditional banking groups have built their own identity, one different from the other, establishing themselves on the market of financial consultancy: BNL BNP Paribas Life Banker, Credem and Widiba.
In these cases too, the evolution of each brand mirrors the adaptability to the structural changes of the sector, acted upon with uncommon speed and flexibility.
The largest investor in communication, Mediolanum, has evolved gradually, following a clear strategy – they started with a change in their brand followed by a change of top management. This way, Mediolanum managed not only to maintain (which is not obvious), but also to strengthen their identity.
Generali is at the top of the list of the Italian brands which were able to innovate their communication and stand out internationally. Like the Group, Banca Generali brought together different ventures under their brand, succeeding in positioning as a reference player in the private market.
Azimut is a true outsider, a public company involving as main stakeholders its financial advisors, managers, employees and management within a shareholders’ agreement controlling 21% of the company: Sestante is a staple element in many ventures, of which it is often a precursor.
What brings together such different instances is their ability to shape their brand identity, reading rather than enduring change.
Nicola Ronchetti