Citigroup, the American financial services brand, is restructuring its senior management and marketing teams. It is also investing in marketing for the first time in three years in an attempt to increase brand awareness in the UK.
Former Egg marketer Tobias van der Meer has been promoted from global consumer group UK marketing director to head of retail banking for Citibank. Head of marketing Dean Proctor, who joined the company earlier this year, has taken over as marketing director.
The company is keen to develop its London team as more than just an "outpost" of the US brand and admits that it has neglected marketing over the past few years. The new campaign aims to attract the "mass affluent" population in the South-east.
Proctor says: "The change [in marketing strategy] is that we’re doing something, which we haven’t done in a number of years. We are now deliberately trying to position ourself as a mass affluent brand in the South-east."
He says it is "not credible" for Citibank to attract mainstream customers, which are well serviced by the high street banks, but that it can increase business by targeting customers earning around £100,000.
The campaign has been created by Citigroup’s US agency Wunderman, with media through Mediaedge:cia. The financial services company has also tied up with City freesheet CityAM and has bought the newspaper’s first wraparound advertising.
Other initiatives include the relaunch of its Citigold account and the introduction of standalone Citigold branches, which specialise in offering in-depth financial advice.