Residents targeted by bank ad campaign
A Bank of Bermuda advertising campaign featuring its own investment professionals has been launched targeting Island residents as potential investment clients ? including former shareholders who got a windfall of up to $900 million in the bank?s sale last month.
A bank spokesperson yesterday confirmed that the ads were designed to bring in more investment business from Island residents, including former shareholders.
In the bank?s sale to multinational banking giant HSBC Plc. local shareholders ? who were known to hold a significant number of the bank?s total shares outstanding ? were, by estimates from the bank, expected to be paid up to $900 million of the total $1.3 billion pot.
The advertisements, which began running this week, were said to be part of a campaign focused on the bank?s investment centre that was launched in December.
The new ads introduce members of the bank?s investment team by name and have a personal touch, with yesterday?s ad reading the investment professional?s name, then golfer and certified financial planner.
The bank said, however, that its target audience for these ads was not limited to former shareholders, but a wider group who may find value in the bank?s ?broad capabilities and products?.
The ads do not include any HSBC branding, although the bank said that would come shortly:
?We are working now on introducing the new logo into our current ads,? the spokesperson said, adding that some ads could incorporate the HSBC branding within the next week.
Over the next couple of months, ads will also be changed to incorporate some of HSBC?s global marketing standards.
In the sale to HSBC, which closed on February 18, it was said that the bank?s name would remain as it is for at least five years, but branding would incorporate the HSBC hexagon logo.
