From October 11, Signet Bank AS (formerly Bank M2M Europe AS) starts operating under a new name and introduces a new brand identity, Signet Bank.
The change in the bank’s name and brand follows major changes in the shareholders’ structure: an international group of investors – Signet Global Investors Limited, SIA Hansalink and SIA Fin.lv – acquired majority shareholding in the bank.
The bank’s new name pays homage to the majority shareholder, Signet Global Investors, and symbolizes financial stability, capital preservation and growth with the help of professional financial advisors and private bankers. Inheriting the name of Signet also signifies the new shareholders’ resolve to foster the bank’s international development, ensuring that investment solutions it offers meet the highest standards in the industry, drawing on Signet Group’s experience of over 20 years on the financial market.
Signet Global Investors Ltd co-founder Serge Umansky: “By changing its brand identity, the bank has turned a new page in its development. The bank now has a diversified shareholder makeup, and Signet Bank considers this as an advantage. We chose the name of Signet because it is a financial brand, euphonious in many languages, and the name is already borne by one of the shareholders and valued by our customers.”
Before changing the brand identity, the bank became a strategic choice to high net worth individuals who were looking for professional wealth management services and reliable partners to help them attain their goals: capital growth, family welfare, and business development. Regardless of the new brand identity, the bank will remain loyal to its values, and the changes will further consolidate its positions as a trustworthy partner to HNWI segment customers on the international level.
In developing the new brand identity, it was important for the bank to show that private banking is far more than finance. The philosophy behind the Signet brand is wealth management that exceeds expectations regarding both – quality of products and attitude towards detail. The Signet logo and symbol represent security and discretion in every detail – from client service to the bank building itself. The vertical lines show the constant growth and protection of the Signet brand values, while the arch represents belonging and inclusiveness within the Signet community.
Signet Bank shareholder, SIA Hansalink co-founder Irīna Pīgozne: “A company brand, in essence, signifies good reputation, an image, and a combination of intangible qualities that make one to build an emotional engagement with customers. It is important to a customer to see that a new brand is not just an outward transformation. Customers have to sense that the new brand will bring about the winds of change. In English, Signet means a ring with a seal set into it, and that symbolizes being part of a certain circle, common values, and keeping promises. It unites us as partners, and deepens our connection with the customer.”
Signet Bank CEO Roberts Idelsons: “In opening a new chapter in the development of the bank, it was important for us to not only choose the most suitable name, but also a visual solution that would reflect our strategic values. We liked the style offered by brand company experts – modern yet with a nod to tradition, discrete and international. The first impressions are very important, and I was pleased at what we were being offered. I do believe that our customers will have similar emotions.”
The change of the bank’s name and brand identity will have no effect on the bank’s business strategy, which is to serve the HNWI segment, focusing on the quality and performance of wealth management solutions.