« Paying so they can play | Main | JAY-Z HELPS NJ NETS MOVE TO BROOKLYN »
January 23, 2007
Financial companies target brand-building
Investment News
By Charles Paikert
Branding took center stage last week as financial services companies jockeyed to project and amplify their images to ever-larger audiences. London-based Barclays PLC, one of the world’s largest banks, made the biggest splash, as it sought to pump up its anemic U.S. brand by agreeing to pay nearly $400 million over 20 years for the right to have its name on an arena in Brooklyn that hasn’t even been built. Nonetheless, the bank proudly took out full-page color ads in The New York Times and Wall Street Journal trumpeting the Frank Gehry-designed Barclays Center, which developer Bruce Ratner hopes will be built by 2009 as the new home of the New Jersey Nets basketball team.
Prudential Financial, Inc. and Citigroup, Inc. recently signed naming-rights deals in Newark and Queens, respectively.
Posted by lumi at January 23, 2007 6:11 AM