Indosuez Wealth Management, the global wealth management brand of Crédit Agricole Group, acquired 94.7% of the Italian boutique private bank, Banca Leonardo, in 2018.
The acquisition brought together 230 employees in 6 offices in Italy, with 7 billion euros under management. As Indosuez’s brand consultants, we were tasked with proposing a brand strategy to support the merger and acquisition.
We identified two key priorities: to communicate the transition process to all stakeholders; and use the brand agenda to help new colleagues engage with the brand values and promise of the Indosuez Group.
Externally, the immediate requirement was to communicate the change in ownership and start to engage Banca Leonardo’s employees and clients with the wider Indosuez value proposition.
In the medium term, the brand strategy was to then migrate the Banca Leonardo brand to Indosuez, as part of its global brand proposition.
We conducted a full Banca Leonardo brand audit and identified a number of migration options with a risk/benefit assessment identified for each. It became clear that a prompt transition to the Indosuez brand was the most elegant and cost-effective option.
Finally, we assisted with messaging for the initial corporate communications and proposed short-term modifications to the Banca Leonardo website, intranet and other high-profile applications, including management and client presentations, to ensure clear communication around the transaction.
The merger between Banca Leonardo and Indosuez Wealth Management was completed in 2019. CA Indosuez Wealth (Italy) S.p.A. then became the wholly owned by CA Indosuez Wealth (Europe).
Olivier Chatain, CEO of CA Indosuez Wealth (Europe), commented: “The completion of this transaction is an important step for our development in Italy, one of the Group’s core markets. Our teams really look forward to working alongside our new colleagues from Banca Leonardo, a strong and recognised wealth manager in Italy. Our joint ambition is to deliver a comprehensive, bespoke, wealth management offering to Italian families and entrepreneurs.”
The Indosuez brand is now well established within the Italian market, known for its international reach, expert advice and exceptional service.