Assessing the impact of a visual identity change through a scenario analysis.
Rebranding
ICAP's challenge
ICAP is a UK-based business, focused on electronic markets, post-trade business, risk mitigation, messaging, broking and information services for wholesale market participants. The business has a presence in all major global financial centres and employs 2,700 worldwide.
With the sale of its voice-broking business to Tullett Prebon, ICAP planned a separation of the business to create a new standalone company, focused solely on electronic markets and post trade. The new company would have a new name, NEX plc, with its own brand identity. There was a legal requirement for all ICAP branded assets to be changed over within 18 months.
With a ‘separation’ programme already underway, VIM Group was asked to assess the overall impact of the visual identity change across business units and brand touch point areas, from a visual, organisational and financial perspective.
Our solution
VIM Group carried out a detailed Impact Analysis which proposed a series of possible change scenarios as well as an implementation masterplan. Our analysis involved undertaking interviews with key ICAP stakeholders, extensive desk research and the collection of substantial data during the follow-up period.
From the result of our findings report, we advised ICAP/NEX on several change scenarios, putting forward our recommended approach on how best to deploy the branding. The report also identified areas for potential synergies and savings and included robust timings for each workstream.
Results
The rebrand took place in a highly regulated sector. In addition, the legal requirement for all ICAP branded assets to be changed over within 18 months meant we had to consider a very condensed timescale for evaluation, analysis and calculation.
