The bank has built its portfolio based on tradition and acquisitions pursued over the years. UBS has successfully entrenched itself in the various business segments and its wide range of customer services are highly valued by global clients (Thirkell-White, 2004). It has been observed that ‘umbrella brands’ used by the firms, with multi-business operations, foster improved market penetration. An umbrella brand refers to the use of a common brand for various businesses. UBS has also adopted this concept of a single brand across all its businesses by abolishing the local brands in order to form a global umbrella brand. By leveraging the reputation and trust effects associated with a strong brand image a firm can make use of various growth opportunities. To make use of the growth synergies that comes along with it, Swiss-based bank UBS recently moved towards an ‘umbrella brand’. The bank has three main businesses asset management, wealth management, and investment banking. all of which work as one coherent unit thereby acting as one single form for its clients. The top management of the bank initiated the project relating to global brand strategy in 2001. In 2003 this led to the launch of an umbrella brand in the year 2003. The benefits associated with growth synergies formed the basis of adopting a single brand. UBS officials viewed that the adoption of ‘one brand for all its businesses could convey the bank’s core values to the clients more effectively and consistently. The bank seems to be reaping the benefits of this umbrella brand. The brand value of UBS has increased from US$6.5 billion in 2004 to US$8.7 billion in 2006. Besides this, the customers increasingly affirm to the key attributes of the bank like UBS is a global power-house. UBS takes time to understand us and UBS has superior expertise (Knoll, 2008, p.164).
Marketing Financial Services of UBS