New-look HSBC no shrinking violet
HSBC is no longer 'The World's Local Bank' - that's official. In what is a significant shift in its advertising strategy, HSBC is dropping what has been a highly successful tagline. The bank adopted the line in 2002 but is dumping it with immediate effect from all new advertising, according to marketing-interactive.com. The change accompanies the considerable upheaval under way at HSBC following CEO Stuart Gulliver's announcement in August that the bank was planning to cut up to 30,000 jobs and pull out of some markets.
The website quotes HSBC's group head of advertising and marketing Andrew Newman as saying the decision to scrap 'The World's Local Bank' was to reflect its new strategy and to 'have a new conversation with our customers and the markets we operate in about the future'.
It's a little unclear what this 'new conversation' will be since the new advertising campaign will have no equivalent tagline. Newman says the new campaign and brand positioning will highlight four aspects of HSBC's strategy: its presence in growth markets and businesses, focus on markets where wealth is being created, emphasis on retail banking and global connectivity. That doesn't sound as snappy as its predecessor. What can we say? 'The World's Shrinking Bank'? 'Honey I shrank the bank'? Feel free to email suggestions.
Tycoon's heart-felt denial
To paraphrase Mark Twain: 'Reports of Li Ka-shing's angioplasty have been totally fabricated.' That in a nutshell was the response from Cheung Kong's public relation's department to a story in Next Magazine. Cheung Kong's displeasure at the story was evident in its pithy reply.
'The entire story was fabricated; Mr Li Ka-shing has not had, nor does he intend to have, any angioplasty operation nor any heart/blood vessel related operation. Mr Li Ka-shing does not need to take any heart/blood vessel related medication. Dr Tse Tak Fu, as mentioned in the said article, has been a friend of Mr Li Ka-shing for many years, and has given medical consultation to Mr Li's relatives and friends. Mr Li has accompanied a senior relative of his to a consultation with Dr Tse before. Mr Li Ka-shing is in very good health.'