CEC Bank

New:  Name, logo and visual system

Launched:  May 6, 2008

Story in brief:
This is a uniquely 21st Century branding story -- the reinvention of a government-owned bureaucracy, to compete in the marketplace with some of the world's sharpest marketers.

Formerly "Casa de Economii si Consemnatiuni" (essentially "House of Savings"),  CEC is the oldest surviving Romanian bank.  Government owned, under communism (1948-1989) it remained the only bank available to the ordinary Romanian consumer.  But after the fall of Ceausescu, the newly democratic Romania opened its doors to international banks, facing CEC with such competitors as ABN Amro, ING, Societe Generale and Citi. As you can imagine CEC, managed by a succession of politicians under eleven Presidents, undercapitalized and with the heritage -- and the back office -- of a bureaucratic monopoly, lost market share hugely. But in 2006 the Government, having failed to sell CEC, decided instead to rebuild on its still considerable assets -- notably 1,400 retail locations, a virtual rural monopoly, loyal employees and a household name. To quote Romania's Prime Minister, on the occasion of the new brand's launch,  "We need a bank to meet the needs in rural areas and small towns where the big commercial banks are not present, and a bank where clients who do not have very big incomes feel they are welcomed."

On the strength of its financial commitment to substantive change, the government was able to recruit a private sector leader, Radu Gratian Ghetea (the CEO of Alpha Bank and President of the Romanian Bankers Association) to revive the CEC brand. In June 2007, Ghetea confirmed the appointment of Brandient, one of Romania's outstanding identity firms, to help make this happen.

"Our first breakthrough was to convince them to slightly alter their name to add Bank" says Aneta Bogdan, Brandient's strategist, because "many perceived them as a savings house and not a bank." Actually it's a significant change, legally replacing "Casa de Economii si Consemnatiuni" with "CEC Bank SA."  (Note: CEC is an acronym -- the Romanian word "cec" is pronounced, and means, "cheque." Nice.)

Brandient's designers used a number of techniques to convey heritage, strength and reliability, yet with warmth and approachability -- a sturdy serif font (Charter), colors, a shield of authority and of course the oak leaf, a universal mark of strength and financial responsibility used also, in Romania, both by the military (in medals and insignia) and by the nation's proud rugby team.

Credits:
C.E.O. - Radu Gratian Ghetea
Identity planning and design - Brandient (Bucharest);
Managing Partner Aneta Bogdan, Creative Director Christian 'Kit' Paul
 

First Impressions:
It's hard to imagine a "before" brand as trivial, as cartoonish, as the old CEC coin-in-roof symbol.  This redesign takes the bank leap years forward in sophistication, yet at the same time back to its 1864 foundation.  Virtually overnight, CEC Bank is credibly a global competitor (at least in image), yet retains the home-field advantage. To quote the Prime Minister again, "It is a well-done thing."

Brand values, expressed in headquarters banners:

 

Corporate Brand Matrix ratings:  
0% structural,  75% strategic,  25% functional