Magazine article American Banker

Chemical Unit Seeks to Show Big Isn't Bad

Magazine article American Banker

Chemical Unit Seeks to Show Big Isn't Bad

Article excerpt

For most companies, being No. 1 is viewed as an asset that should be touted in a flashy advertising and marketing campaign.

But Chemical Banking Corp., which turned into a cash management market leader overnight as a result of its merger with Manufacturers Hanover Trust Co., found that some customers worry that bigger is not necessarily better. They prefer the service of a smaller institution.

Chemical's marketing challenge is to convince customers, especially small ones, that the bank hasn't gotten too big for its britches.

New Ad Campaign

Last week the bank launched a new advertising and marketing campaign for its Geoserve unit, which provides information processing for corporate treasurers at multinational corporations as well as at middle market companies. The campaign is the first to portray the cash management group after the merger.

Geoserve was the name of Hanover's information processing division. Although the new unit combines similar divisions from both banks, Chemical retained the Geoserve name because the Hanover unit was much larger and better known.

Because of the merger, Geoserve is now the leading provider of cash management information services to corporations and financial institutions. It's the largest U.S. dollar clearing agent, processing 70,000 transaction a day, and a leader in stock transfer services, government securities clearing, and corporate trust appointments.

The unit generates more than $700 million in annual revenue. …

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