Subject category:
Marketing
Published by:
Harvard Business Publishing
Version: 14 April 2005
Length: 22 pages
Data source: Field research
Topics:
Business & government relations; Shareholder relations; Organizational culture; Buy or lease decisions; Focusing on customers; Foreign investments; International marketing; Cross functional management; Mergers & acquisitions (M&A); Customer Relationship Management (CRM); Commercial banks; Brand management; Teams; Incubators; Branding; Brands
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Abstract
In Spring 1998, Citicorp and Travelers merged to create a financial powerhouse that united the bank with Travelers'' consumer finance and brokerage businesses, including Salomon Smith Barney and Primerica. It was the first US financial services company to combine banking, insurance, and investments under one umbrella. Both entities historically had very different cultures, driving a radically different approach to branding. During completion of the merger, a team of managers was responsible for recommending to top management a new brand identity that would unite the entire organization and provide it with a strategic focus. The new brand also had to inform customers and shareholders of Citigroup''s new financial capabilities and allow cross-selling without sacrificing the power of component brands. In a tense post-merger situation, decisions must be made early and decisively to prevent damaging brand equity.
Location:
Industry:
Size:
USD92,556 million revenues, 255,000 employees
Other setting(s):
1998
About
Abstract
In Spring 1998, Citicorp and Travelers merged to create a financial powerhouse that united the bank with Travelers'' consumer finance and brokerage businesses, including Salomon Smith Barney and Primerica. It was the first US financial services company to combine banking, insurance, and investments under one umbrella. Both entities historically had very different cultures, driving a radically different approach to branding. During completion of the merger, a team of managers was responsible for recommending to top management a new brand identity that would unite the entire organization and provide it with a strategic focus. The new brand also had to inform customers and shareholders of Citigroup''s new financial capabilities and allow cross-selling without sacrificing the power of component brands. In a tense post-merger situation, decisions must be made early and decisively to prevent damaging brand equity.
Settings
Location:
Industry:
Size:
USD92,556 million revenues, 255,000 employees
Other setting(s):
1998