US banking giant Citigroup is to undergo a corporate branding change that will see its businesses united under the 'Citi' brand, with the company's trademark red arc design and silver lettering. In addition, the group has agreed to sell its red umbrella logo to The St Paul Travelers Companies.
The group commented that the strategy was intended to unite its businesses under a consolidated global brand identity so as to serve clients worldwide. As of Q2 2007, Citigroup’s corporate and investment banking segment will use the Citi brand name, while its wealth management unit will use the Citi Smith Barney, Citi Investment Research and Citi Private Bank brand names.
Citigroup added that, while alternative investments will use the brand name Citi Alternative Investments, the group’s global consumer businesses, including the Citibank branch network, would continue to use the blue Citi with the red arc brand name and signage.
Our unified brand represents the promise to serve our clients as one company, as one Citi, commented Charles Prince, chairman and CEO. It also speaks to our exciting future as a highly connected, responsive, and profitable global leader in financial services.
The group commented that it was to sell its umbrella logo to The St Paul Travelers Companies after research showed that it was more connected with insurance. The proceeds of the sale, which is expected to close in March 2007, will be used to offset the future costs of implementing the unified brand.
The group added that, although it will operate as Citi, its legal name will remain Citigroup Inc.