Deutsche Bank, Germany’s largest bank, is looking for a PR company
to promote its restructured private banking division.
The bank is believed to have earmarked a budget of around DM6 million
(pounds 2.2million) for a global PR campaign encompassing media
relations, events, publications and some advertising.
It is understood the bank has approached the three biggest international
PR agencies - Hill and Knowlton, Shandwick and Burson-Marsteller - for
credentials. None would comment and it is believed they are bound by a
strict confidentiality agreement.
A formal beauty parade is expected to take place in Frankfurt towards
the end of next month.
Private banking is one of four new operational divisions created last
July. The others are commercial and institutional banking, investment
banking and group services.
One of the aims of this reorganisation was to make the private bank more
internationally competitive and flexible. The publication Global Private
Banking reported in October that the bank had embarked on a programme of
rationalising its marketing, standardising product lines and initiating
training programmes for private bankers in all its 13 banks around the
The bank was also reported to be planning a major international
re-branding campaign, backed by advertising.
The re-branding is expected to focus on the German-based private bank
Bankhaus Grunelius in which Deutsche Bank increased its stake from 83.4
per cent to 100 per cent earlier this month.
At the time Deutsche Bank board member Tessen von Heydebreck told
reporters that Grunelius would become the ’nucleus’ of its private
banking business in Germany, where Deutsche Bank manages around DM40
billion (pounds 14.8 billion) of private customer funds. Grunelius would
also act as a conduit for Deutsche to expand its private-banking
internationally, the bank said.
No one at Deutsche Bank in Frankfurt was available for comment as PR
Week went to press.