By the numbers
- Staff engagement went to a record high of 78%.
- 94% of The National Bank staff reported feeling confident about talking to customers about the new technology system
- More than 99% of The National Bank customers remained with the company after the merger
- Media coverage in the two weeks after the brand change announcement was 56% positive, 27% neutral and 17% negative.
In 2003, ANZ Bank New Zealand acquired The National Bank, operating the two as separate entities and positioning the former as the “everyday” brand and the later as the “premium” brand. The banks functioned independently until 2012, when the whole organization went through a “simplification” program that reduced costly duplications across the business – in management teams, products, processes, technology systems and brands – and brought the company under one brand: ANZ.
Unifying management teams, products, processes and technology systems all made sense to customers and frontline staff. But The National Bank the much-loved brand was always going to be a challenge for those who had come to love its much cultivated and heavily invested in image.
As a result, ANZ Bank New Zealand’s corporate affairs team faced considerable pressure to make the transition as smooth as possible for stakeholders on all sides, including customers, staff, regulators, the news media and the public.
The challenges faced by the corporate affairs team included:
- A divided workforce. Following the acquisition of The National Bank, the banks became divided as frontline staff treated the “opposite” brand as competition rather than teammates.
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