Deutsche Bank looks to PR for re-branding

Deutsche Bank, Germany’s largest bank, is looking for a PR company to promote its restructured private banking division.

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

world.



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.



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