Global French banking giant Credit Lyonnais is redesigning its corporate logo for the first time in 20 years. A spokesman for the bank confirms it is working with an unnamed design consultancy and the launch of a new identity is “not far off”.
He says the decision has not been taken lightly, as a worldwide corporate identity redesign involves huge expense. “The existing logo is starting to show its age,” he says. “We are now ready to send out a strong message that Credit Lyonnais has overcome the problems it had in the 1990s – what better way to do that than create a new visual identity?”
The spokesman says Credit Lyonnais is currently a retail bank only in France, but a corporate bank worldwide. He says it is being “compelled by Brussels to take its retail activities abroad”.
International branding group Landor Associates undertook a branding project with Credit Lyonnais a few years ago, but is not believed to be involved with the new identity. A spokesman for Landor in Paris confirms it had worked with Credit Lyonnais in 1997 but refuses to comment on its involvement with the imminent rebrand.
It is widely believed among European banking analysts that Credit Lyonnais is too small to stay independent, despite recent strong financial performances. Managing director Dominique Ferrero dismisses these suggestions, and says mergers don’t always improve profitability.
Paris-based international consultancy Carre Noir, 75 per cent owned by the Rothschild and Credit Lyonnais banks, also denies any involvement in the rebranding project.