January 14, 2009
Merrill Lynch Naming and Bull Logo Live to Fight Another Day
The Merrill Lynch name and its famous bull logo will live on despite the company now being owned by Bank of America.
The new corporate investment bank will be called Bank of America Merrill Lynch. Apparently, researchers went to 13 countries interviewing both current and potential customers to ensure that the name's equity was still strong.
The Bank of America's "Flagscape" logo will also be incorporated into the offering.
The bull logo has been around since 1974 and is hugely recognizable to customers, even in this bear market. One executive in charge of the naming process wisely said that "It would be fiscally irresponsible to try and rebrand Merrill Lynch."
Most other bank names that Bank of America has taken over have been abandoned, but the Merrill Lynch name is simply too powerful to just let go.
This is obviously a good move. Despite Merrill's recent financial failure, the name still means something to investors, and pretty much everyone even vaguely associated with finance knows that what was once Merrill Lynch is now part of Bank of America.
Renaming such a huge organization would cause problems with Merrill employees and former customers. Keeping the name offers both a feeling of security and continuity in tough times.
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