by Frank Macskasy
Last year, over 13,000 New Zealanders got some measure of satisfaction from ANZ’s part-owned ING in New Zealand. For over a year, half a billion dollars in investors’ funds had been locked up, during a nasty dispute between ING/ANZ and their investors.
The bad publicity for both ANZ and ING was incalculable and showed up the ANZ as a corporate entity quite willing to shaft their own customers.
But not to worry, ‘cos ANZ finally came up with the answer of how to overcome all that bad publicity – they changed ING’s name to “One Path”!!
Yup – a total re-branding of their subsidiary company. Evidently the “ING” brand name was now a rather smelly liability, and they’ve opted for a “make over”. (New website here)
I would have thought the new name, “One Path”, was rather unfortunate. For 13,000 investors, ING was the One Path to losing much of their life savings.
The ANZ has no such option, I guess. Their branding can’t be changed quite so easily. So they’ve taken to massive billboards and TV advertising, with the theme, “In a Perfect World…”
Of course, in a “perfect world”, investors in an investment company, belonging to a major bank, would not have been shafted as they were by the ANZ.
Thinks… maybe ANZ/ING would’ve caused less damage to their credibility and branding had they simply looked after their customers in the first place.
Thinks… that it takes a ‘leftie’ to remind a major corporation of the basics in how to look after a customer.