Branding
OP Bank Group to be called OP-Pohjola

Finnish banking co-operative OP Bank, the country’s
second largest financial services group, has announced that the
name of OP Bank Group will change to OP-Pohjola Group and that OKO
Bank, its main banking subsidiary, will change to Pohjola
Bank.

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The group entered the non-life insurance business with the purchase
of Pohjola two years ago, resulting in a dramatic change in the
bank’s structure and business content. Non-life insurance will
continue to be sold under the Pohjola brand, while bank products
will still be provided by the separate cooperative banks.

Advertising
Citi’s Women & Co in major marketing
blitz

Citi’s Women & Co division, which offers financial services
specifically for affluent women and businesswomen, has launched a
major pan-US advertising campaign. The campaign, says the bank, is
designed to tackle old-fashioned stereotypes concerning women and
money.

“This is not financial services wrapped in pink. We provide women
with the comprehensive financial education they are seeking to help
them navigate the distinct financial challenges they face over the
course of their lifetimes,” said Lisa Caputo, chairman and CEO of
Women & Co.

‘Dividends are a girl’s best friend’ and ‘Something old, something
new, something borrowed, something blue chip’, headline the new ad
creative, which also feature the Citi logo and the bank’s new
tagline ‘Let’s Get it Done’.

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The ads will run in glossy lifestyle magazines such as Real
Simple, More, Vogue and Oprah Magazine as well as
national newspapers including The New York Times.

Customer Service
Nationwide tops JD Power survey

Nationwide Building Society, the UK’s largest
mutual, has topped a customer satisfaction survey by research group
JD Power. The study measured customer satisfaction with the 12
largest retail banks in the UK based on six factors: transactions
(online, branch, ATM and telephone); account opening/ product
offerings; fees; account statement; problem resolution and
convenience.

Nationwide ranked highest, with 742 on a 1,000-point scale,
followed by Royal Bank of Scotland (RBS) (689) Alliance &
Leicester (667) and HSBC (660). Halifax, part of HBOS, and NatWest,
part of RBS, tied with 659 each. Clydesdale Bank (606), Barclays
(605) and Abbey with 591 were the bottom three ranked banks.

The study disclosed that the average respondent has been with their
bank for 18 years, and 25 percent of customers view recommendations
from friends and family as the most important factor when choosing
a bank.

“It’s interesting to note that nearly 75 percent of customers would
still recommend their bank to others, and that 45 percent of these
customers have recommended their bank in the past 12 months,” said
Caspar Tearle, director of service industries research at JD
Power.