UK finance house Schroder Investment Management is understood to be planning a rebranding campaign, worth up to £12m, in an attempt to shed its “stuffy” image.
The main advertising account is split between Citigate Albert Frank, which handles its financial services and unit trust divisions, and the Lowe Lintas-owned Broadway Group (MW July 27), which runs the investments and corporate businesses.
Schroders is believed to have drawn up a six-strong shortlist of agencies, including financial specialists and mainstream ad agencies, for the marketing offensive.
The company, which was launched in the UK almost 200 years ago by Johann Heinrich Schroder and now operates in 29 countries, is best known for offering banking and wealth management services to high net worth individuals.
But it also offers a wide range of other products and services, from unit trusts and individual savings accounts (ISAs) to investment trusts and specialist funds. It is thought to be planning to promote this side of the business.
The company advertises extensively in the financial pages of national newspapers and also in specialist trade titles. Some advertising is handled in-house.
Schroders uses a variety of routes to market, including independent financial advisers (ISAs), private banks and online fund supermarkets.
Citigate declined to comment on the move. No one at Schroders was available for comment as Marketing Week went to press.