Principality Building Society is considering a change of name as part of a brand review to develop a more modern Welsh brand.
The building society is one of Wales’s premier brands. In addition to its brand, Principality Building Society is also looking at overhauling its branch network.
The project is being overseen by Principality Building Society sales and marketing director Bill Mayne. He says: “We are looking to update the look and feel of our brand communications and branch environments to reflect what our brand is about.”
WPP-owned brand consultancy Enterprise IG has been appointed to conduct the review. Enterprise IG chairman (Europe) Terry Tyrrell says: “Everything is up for grabs, but it would be quite irresponsible just to ditch Principality because the name is politically incorrect. But we will be looking at Welshness and what Welshness means in the modern age.” The building society will also be doing more to promote its mutual status and redesigning its branches.
It is believed that once the brand review is concluded, Principality Building Society will also look to appoint an advertising agency.