Merrill Lynch

Mission

1.Low Brand Recall and High Suspicion of Foreign Firms

Awareness and recall of the Merrill Lynch brand were low, and there was a strong wariness towards foreign companies, resulting in an extremely low number of visitors.

2.Japanese-Specific Attitudes Toward Money Misunderstood by Americans

Japanese perspectives on investment, assets, and money differ significantly from those in the West. Despite extensive promotion over one year, Merrill Lynch’s brand message from the US side failed to resonate and was even shunned, preventing customer growth.

3.Incompatibility of the Brand Design System

The global brand design system developed by Merrill Lynch headquarters did not suit the Japanese market. Storefronts appeared gloomy, and the lack of a design system accommodating Japanese script (Kanji and Hiragana) led to outdated and uninspiring signage.

4.Former Yamani Securities Employees Unable to Assimilate into Merrill Lynch Culture

Former Yamani Securities staff struggled to adapt to Merrill Lynch’s corporate culture. They failed to understand the role and behavioural guidelines of financial consultants, perpetuating old sales methods from their previous company.

Solution

Led by the CMO, a next-generation leadership team was assembled to conduct regular workshops every Saturday.

KPI targets were set: increase brand awareness from 40% to 80%, quintuple the number of visitors, and double asset volume.
In close collaboration with the US headquarters, the team implemented strategic planning through to concrete rollout, with AXHUM working alongside all activities.

2.Hypothesis Development of Japanese Money Personality Segmentation

Through group interviews and quantitative surveys employing conjoint analysis targeting prospective customers, a segmentation hypothesis of Japanese money personalities was established.
Target customer segments aligned with Merrill Lynch Japan Securities’ core competencies were identified, and triggers were discovered and defined to foster understanding, empathy, store visits, and contract signings.

3.Development of a Japan-Specific Brand Voice and Design System

A value promise (brand concept) was defined to build bonds with the identified target segments. This brand voice was conveyed through media channels including TV, newspaper, and magazine advertisements.
A Japan-specific brand design system was reconstructed, incorporating a new signage design system.

4.Best Practice Movement as Employee Engagement

To share Merrill Lynch Japan Securities’ unique values, a brand concept book was created and distributed. Employees were trained to recognise customer money personalities at storefronts, fostering pride and understanding through distinctive Merrill Lynch customer acquisition experiences.
Sales activities unique to Merrill Lynch were designated as best practices. In three underperforming branches (Chiba, Yokohama, Osaka), participatory best practice initiatives were launched, including customer invitation seminars to drive new client acquisition.

Achievement

1.Achievement of KPIs

The KPIs — increasing brand awareness from 40% to 80% and quintupling visitor numbers — were met within three months of implementing the initiatives.
Subsequent best practice initiatives further accelerated customer acquisition. The CMO leading the project was recognised among the top 15 in the Pacific region.
Thanks to the leadership of the participating team members, the traditional Japanese securities firm was transformed into a new, Japan-style Merrill Lynch Securities.

2.Establishment of Merrill Lynch Japan Securities’ Unique Brand Positioning

The emergence of a novel securities firm, unprecedented in Japan, laid the foundation for cultivating a new investment culture in the country.

3.Progressive Growth and Merger with Mitsubishi UFJ Bank

Subsequently, Merrill Lynch Japan Securities merged with Mitsubishi UFJ Bank, Japan’s largest bank, becoming Mitsubishi UFJ Merrill Lynch PB Securities.
The team continued to oversee branding initiatives related to the merger.
A key challenge was integrating the corporate cultures of Mitsubishi UFJ Bank and Merrill Lynch Japan Securities, which had distinct values.
This led to the development of a new brand positioning and the rollout of promotional activities.