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Rating:A Mutual Fund Shop's Parent Rebrands On Its IPO Voyage Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 11, 2013

A Mutual Fund Shop's Parent Rebrands On Its IPO Voyage

Reported by Tommy Fernandez

Ladies and gentlemen, we'd like to introduce you to Voya Financial, the firm formerly known as ING U.S.

Five months into official preparations for a $100 million IPO, the U.S. arm of the Dutch multinational has announced plans to rebrand itself as Voya.

“While our future name and logo will be different, the commitment we have to our customers and our retirement, investment management and insurance businesses remains the same,” stated Rodney Martin Jr., CEO of ING U.S. “Our vision is to help working Americans prepare for the important financial journey they face. We want to be known as the company that understands and supports their diverse needs as they seek to advance their retirement readiness — in essence, to be America’s Retirement Company. We intend for the Voya Financial brand to become synonymous with this goal as we provide the distinctive value, guidance, products and services our clients and partners have come to expect from ING U.S.”

It was in November when the Amsterdam-based parent, ING Group, had announced its e plan to divest ING U.S. through an initial public offering. According to the company, ING U.S. will start operational rebranding following the proposed IPO. The operational rebranding process is expected to take approximately 24 months once it is started, and ING U.S. would not use its new name and logo commercially until the operational rebranding process has been completed. The Voya Financial identity would, however, be reflected in the company’s new ticker symbol (NYSE: VOYA) upon completion of the IPO.

Until the rebranding is complete, ING U.S. will operate “business as usual” with its current “ING U.S.” name and brand assets, according to the company.

According to a press release, the selection of a new brand for ING U.S. took months of extensive research and testing. After narrowing thousands of concepts down to the top creative ideas, ING U.S. identified a name that aptly reflects the company’s mission, values and personality.

To look at the future logo and colors, a brief informational web page can be accessed at www.voya.com. This site will direct individuals back to ING U.S. until the time when the new brand goes into commercial use. Here is the press release:
Company Press Release

ING U.S. Announces Plans to Rebrand as Voya Financial

New identity will support company’s strategy to help Americans advance their retirement readiness

As more Americans face the growing responsibility to plan and save for their retirement, ING U.S.’s goal is help guide them on their voyage toward greater financial preparedness. In this context, and as it continues to prepare to become an independent company, ING U.S. has announced plans to rebrand in the future as Voya Financial. ING U.S. believes the new brand identity will support its mission to make a secure financial future possible — one person, one family and one institution at a time.

“While our future name and logo will be different, the commitment we have to our customers and our retirement, investment management and insurance businesses remains the same,” said Rodney O. Martin Jr., CEO of ING U.S. “Our vision is to help working Americans prepare for the important financial journey they face. We want to be known as the company that understands and supports their diverse needs as they seek to advance their retirement readiness — in essence, to be America’s Retirement Company. We intend for the Voya Financial brand to become synonymous with this goal as we provide the distinctive value, guidance, products and services our clients and partners have come to expect from ING U.S.”

The Transition to Voya Financial

Amsterdam-based parent, ING Group, has previously announced its base case plan to divest ING U.S. through an initial public offering (IPO). ING U.S. will start operational rebranding following the proposed IPO. The operational rebranding process is expected to take approximately 24 months once it is started, and ING U.S. would not use its new name and logo commercially until the operational rebranding process has been completed. The Voya Financial identity would, however, be reflected in the company’s new ticker symbol (NYSE: VOYA) upon completion of the IPO.

Until the rebranding is complete, ING U.S. will operate “business as usual” with its current “ING U.S.” name and brand assets.

The Story Behind Voya Financial

The selection of a new brand for ING U.S. took months of extensive research and testing. After narrowing thousands of concepts down to the top creative ideas, ING U.S. identified a name that aptly reflects the company’s mission, values and personality. It was also important for the new brand to associate with more than just products and services — it had ? ? to connect with the concepts of financial empowerment, taking control and getting organized.

“The Voya name reminds us that a secure financial future is about more than just reaching a destination. Preparing for it should be like taking a voyage and having positive experiences along the way,” said Ann Glover, chief marketing officer of ING U.S. “Our new identity supports the idea of envisioning the future while closely aligning with what the ING U.S. brand is already known for — proactively and optimistically guiding Americans on their journeys to and through retirement.”

The name also brings to mind bright, vivid colors and will incorporate the use of orange.

“We are partial to the color orange. It’s differentiating, optimistic and associated with ING in the U.S.,” added Glover. “While we’ll grow into a new shade of orange, the memorable, distinctive color will remain.”

U.S. Brand Evolution

Voya Financial will be a new name in the industry. It will be built, however, upon ING U.S.’s track record as a leader in key retirement, investment and insurance market segments. These businesses were formed through a series of acquisitions by ING Group dating back to the 1970s.

Although ING has operated in the United States for decades, the ING brand was not introduced through advertising in this country until 2001. Since then, the company’s branding efforts have received national awards for creativity and effectiveness. They have included the trademark ING “Bench” campaign, as well as an integrated marketing effort that calls attention to knowing and planning for your retirement “Number.”

Last month, the company launched “Orange Money,” its newest creative campaign that underscores the importance of carefully managing your retirement dollars. This concept supports ING U.S.’s focus on advancing retirement readiness, and will help bridge the future transition of ING U.S. to Voya Financial.

For a look at the future logo and colors, a brief informational web page can be accessed at www.voya.com. This site will direct individuals back to ING U.S. until the time when the new brand goes into commercial use.
 

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