J.P. Morgan & Co. has rolled out a new advertising campaign to promote its full range of services for wealthy individuals, from private asset management to equity underwriting.
The ads, which strike the theme "Morgan means more," began appearing last month in English-language publications with international circulation. Among them: The Wall Street Journal, Financial Times, Forbes, Barron's, and Far Eastern Economic Review.
The campaign was created by Colligan Group, which took over the Morgan account from Goldsmith/Jeffrey, another New York ad firm. Morgan ended that four-year relationship in September, when Goldsmith/Jeffrey was acquired by Lowe & Partners/SMS, which had a Morgan rival - Citicorp - on its client roster.
The New York banking company, which has nearly $200 billion in assets, wanted its ad campaign to show how its diverse businesses fit together for clients, said Richard Colligan, principal of the Colligan Group.
The ads depict a diamond in the rough, from which other diamonds are being cut - an image that is meant to depict how Morgan sees its wealthy clients' assets, Mr. Colligan explained.
"It's the notion of looking at the individual client in his or her totality and all the parts that make up the wealth," Mr. Colligan said. "Morgan is particularly capable of that because of its breadth."
One ad, aimed at individual investors, lists six services that are available: asset management, securities research and sales, hedging instruments, tax structuring, estate planning, and liquidity management.
"The idea that those other capabilities will help unlock wealth is a robust one," said Douglas Trott, president of Taddington Consulting Group, Toronto.
"The ad is saying, 'we've become more global than some of you may have thought - we're not a stodgy old bank," he added.
Mr. Trott said the ad, while addressed at individual investors, should grab the attention of "a trade audience" - financial intermediaries such as attorneys and accountants who work for the wealthy and provide referrals to money managers.
J.P. Morgan's private bank has a $5 million minimum and manages over $35 billion for wealthy clients. The bank has $185 billion is discretionary trust assets.
Morgan's previous ad campaign was designed to attract entrepreneurs.
