Yahoo Finance Iconic Aussie bank logo redesigned
The Commonwealth Bank of Australia has revealed a new logo in a bid to make it “lighter, brighter and more dynamic”.
The former yellow and black diamond is now two shades of yellow, with Australia’s biggest bank on Monday saying the all-yellow look reflects Australia’s can-do attitude.
“[This is] a symbol of optimism fit for the future and one that represents the work we’ve done to be better, the work we still have to do, and the brighter future we are committed to helping Australia achieve,” CommBank’s chief marketing officer Monique Macleod said.
It’s not just the logo, the bank is also changing its slogan to “Can Lives Here”.
According to the bank, this represents Australians’ ability to stay optimistic under pressure.
M&C Saatchi and Re Agency developed the new branding with CommBank, marking the first logo change in 30 years.
“In the early parts of creative development, we spoke directly with customers and front-line staff and we heard over and over again about that shared resilience, the “can do” attitude and positivity that Aussies have always shown,” M&C Saatchi chief creative officer Cam Blackley said.
“We wanted to create a campaign that celebrates and showcases the achievements and attributes of these people, on television, in print, on outdoor sites and social media.”
Difficult day for CBA
CommBank’s brand refresh comes amid criticism over executive salaries at the billion-dollar business.
The bank was criticised by corporate governance adviser and head of research at ISS Vas Kolesnikoff who noticed that senior staff’s bonuses were out of step with a share price that was lower than it had been in 2019.
Additionally, CommBank staff are facing wage freezes.
CEO Matt Comyn is expected to receive $3.4 million in base salary and long-term bonuses, taking his totally yearly pay to more than $5.6 million. That’s significantly higher than the $4.3 million he was awarded last year.
Shareholders will vote on the pay at CommBank’s annual general meeting on Tuesday.
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