When you are talking about financial companies, there is a brand that you are probably familiar with. But what exactly is Bank of America? This question has long puzzled many of us. The brand has been around for more than a century, and is as big as the nation itself. However, its recent expansion has made it more accessible and inclusive to consumers. Here’s a look at the history of the brand.
To better understand the company’s current image, let’s examine its past. Throughout its history, Bank of America has staked its success on a patriotic image and national identity. The bank’s logo has changed over the years, but it still speaks the language of the target audience. The new look of the logo is part of a broader rebranding effort. Bank of America’s logo has undergone several alterations in order to speak to the target audience.
In 1998, Bank of America underwent a reorganization that made it one of the country’s largest banks. The new emblem features a stylized American flag with six colored stripes. The stripes, like patchwork quilts, appeal to patriotic feelings. It also marks a new chapter in the bank’s history. In its recent history, Bank of America has grown from a small bank to become a global financial services provider.
In its new branding, Bank of America dropped Merrill Lynch from some of its businesses. This is part of a multi-year marketing initiative. The financial crisis in 2008 weakened the brand, but it has rebounded well. Its wealth management businesses will continue to go by Merrill Lynch without Lynch. Some of these businesses include Merrill Edge and Merrill Guided Investing. The brand is also changing as the company tries to appeal to a broader demographic.