Lloyds TSB
1995
No fear
In 1995, two major, but very different British banking brands, Lloyds Bank and TSB, merged to create a single company. The challenge was to integrate the two into a single, stronger bank without losing any customers or staff. The business to retain, motivate and reassure employees.
Your life. Your bank
Wolff Olins helped create a fresh, new brand, Lloyds TSB, behind a single idea that everyone in the organisation could get behind. This idea was ‘Your life. Your bank’, helping to make money relevant to people’s lives in fresh and exciting ways. This idea was brought to life with a new brand look and feel that meshed together the best attributes of each of the parent brands. Wolff Olins also helped guide Lloyds TSB’s roster of agencies to develop consistent above-the-line and below-the-line communications involving new advertising and branch merchandising. We also helped design branch fascias and interiors, along with a new range of ‘lifestyle’ products to support the new vision.
Triple value
The result was hugely successful, with almost no customer or staff churn during the integration. Lloyds TSB achieved 94% customer acceptance, and 50% cost savings, which tripled shareholder value. For a while, Lloyds TSB was the fourth most valuable bank in the world. Though its fortunes then dipped under competitive pressure from RBS, Lloyds TSB started growing again, and in 2007 signed up as the first corporate sponsor for the London 2012 Olympic Games. Lloyds TSB acquired the troubled HBOS in September 2008 and became Lloyds Banking Group in January 2009 upon completion of the takeover. Lloyds TSB continues to operate as its largest retail brand.
