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The story of a bank and its journey to renewal
Presentation to RBS
That which does not kill usmakes us stronger.
Friedrich Nietzsche
We’ve listened to our customers and have learnt some lessons the hard way. But what we have learnt is clear. We must bring about
a new approach to banking…
How should we communicate the positive story of the new RBS?
How should we position and structure the brands in our portfolio and leverage their
relationship with the holding group?
Old wOrld New wOrld
Brute fOrcedriveNAmBitiOus sheer will pOwercOmplexityshOrt-termrisk-tAkiNgdeAl-driveNAutOcrAtictrANsActiONAlspONsOr
fOcused streNgthempOwermeNtdiscipliNedthOughtfulsimplicitylONg-viewBAlANcecustOmer driveNOpeNrelAtiONshipcOmmuNity
“Strategic change from ‘pursuit of growth’ to ‘sustainability, stability and customer focus.”
Stephen Hester , Interim Results, 2009
Relationships
Relationships Build
Relationships Build Success
Relationships are built through two way communication.
It’s about dialogue not monologue.
The new RBS story
‘Relationships Build Success’
chapter 1state a clear
ambition
chapter 2co creating the future
chapter 3the future
bank
Act on our word
Demonstrate we have
listened and learnt
year 1-2
Create a bond
Achieve a critical mass
of confidence
year 2-3
Have cherished relationships
Deep trust
year 3-4
Chapter 1First for the customer
DIALOGUE
Over 40 brands... 40 million relationships...
1 unifying ambition...
Striving to be No.1 for customer service.
DIALOGUE
We put our customers first. We listen, learn and understand what customers value most.
This dialogue enables us to adapt pro actively, so we can better serve our customers.
DIALOGUE
Chapter 2People bank on us...
Our customers bank on us to provide security, support and growth opportunities.
Our people bank on us to provide a rewarding environment in which to flourish and grow.
Investors bank on us to deliver value and return.
Markets bank on us to provide insight and accurate reporting.
The economy banks on us to keep things moving.
Ultimately, people are banking on us to build the bank of the future.
“I bank on RBS”
Chapter 3The people bank
The bank that puts people first.
The bank that is shaped by people for people.
The bank that embraces human ideals of honesty, service and respect.
The bank of the future.
Brand architecture
Can we leverage the reputation of our customer franchises, to help restore
the reputation of the RBS Group?
Or do we risk destroying value in customer brands through contamination?
RBS GROUP
NatWest
Association with RBS makes the portfolio more
transparent to shareholders and builds
value in the group
New RBS adds value to customer franchises
through CSR, financial strength, shared ethos,
wider career opportunities and
complementary services
Brand architecture
Step 1 Step 2
NatWest is part of the RBS Banking Group.We are committed to helping enhance your financial wellbeing. Forty million customers around the world bank on us.
RBS. People bank on us.
Step 3 Step 4
Part of The people bank.
The people bank
Personal Banking (Scotland)
Personal Banking (England)
Personal Banking (US)
Commercial Banking Private Banking Insurance
1 Devolved
2 Low Key Endorsed
3 Endorsed
4 Monolithic
A member of RBS Banking Group
A member of RBS Banking Group A member of RBS Banking Group
A member of RBS Banking Group
A member of RBS Banking Group
A member of RBS Banking Group
A member of RBS Banking Group
A member of RBS Banking Group
A member of RBS Banking Group
BANKING GROUP
RBS BANKINGGROUP
1 Devolved
Pros
• Minimizesriskofcontamination
• Allowsfranchiseflexibilitytopositionitselftooptimumadvantage
• Minimizesdisruptiontobusinessasusual
• Avoidscostofre-branding
Cons
• HoldingcompanybrandreliantoncorporatecommunicationsandCSR to build profile – does not leverage power of consumer brands
• FullextentofGroupoperationshidden
• Long-termcostofsupportingmanybrands
• Potentialbarriertomigratingcustomersacrossbrands
1 Devolved
Personal Banking (Scotland)
Personal Banking (England)
Personal Banking (US)
Commercial Banking Private Banking Insurance
Pros
• Allowsholdingcompanytoleverageequityinconsumerbrands
• Makesportfoliomoretransparenttoshareholders
• Easesmigrationofcustomersbetweenbrands
• Providessteppingstonetounifiedbrandarchitecture
• StrategyalreadybeingimplementedoutsideUK
Cons
• Riskofcontaminationanddestructionofvaluesubsidiarybrands
• Involvescostofre-signing/re-branding
• Doesnotmaximizelong-termcostssavingsofcompleterationalization
3Endorsedbrand
Personal Banking (Scotland)
Personal Banking (England)
Personal Banking (US)
Commercial Banking Private Banking Insurance
3 EndorsedA member of RBS Banking Group A member of RBS Banking Group A member of RBS Banking Group
A member of RBS Banking Group
Pros
• Signalschangeandcommitmenttore-buildingthebrandaroundanewidea
• Signalsonecompanymentality
• Allowsinvestmenttobefocusedinbuildingasinglebrand
• Allowsfullsynergiestobeexploited
Cons
• Shorttermcostsofre-branding
• RequiressignificantinvestmentincorporatecommunicationsandCSR toexplaintherelationshipandoff-setpotentialnegativesofassociation
• Involvescostofre-signing/re-branding
4 Unified brand
4 Monolithic
Personal Banking (Scotland)
Personal Banking (England)
Personal Banking (US)
Commercial Banking Private Banking Insurance
A member of RBS Banking Group
Relationships
Relationships Build
Relationships Build Success
Thank you