Together. We are Santander

Together. We are Santander

Engaging managers across the company

Aligning internal and external messages about the

brand and strategy

Making sure every employee believes in and acts on

the new brand

Measuring the effectiveness of the communication

strategy

3Re-brands: tricky things to get right

4Re-brands: tricky things to get right

5 5A brief history of Santander in the UK (Nov 2004)

Spanish ArmadaHALIFAX parent HBOS has warned

ABBEY's new Spanish owner: We're

gunning for you.

Abbey, the number two mortgage

lender after Halifax, agreed to an

Pounds 8.5billion takeover on

Monday by BANCO SANTANDER.

But HBOS chief executive James

Crosby told Sun City: "The one thing

we won't do is to sit back and make

it easy for them”.

Hola Abbey!IT WAS the news Santander executives

had been hoping for. On Tuesday night, the

chief executive of HBOS, James Crosby,

got into a cab at Heathrow airport and made

the call that ended weeks of speculation

that he was not going to counter bid

Santander's approach for Abbey National.

Hasta la vista AbbeyTakeover by Spanish gets si senor

ABBEY NATIONAL will soon be in

Spanish hands after an £ 8.9billion bid

from BANCO SANTANDER was

approved yesterday.

Angry investors

protest British

developer Abbey's sale

to Spanish bank

It was never going to be a quiet

event. But yesterday's meeting for

shareholders in Abbey to vote on its

9 billion pounds takeover by

Spain's Banco Santander set a new

standard for investor rebellion.

Two years to

turn around

AbbeyAbbey National will take two

years to turn around, its Spanish

owners warned yesterday as

they insisted they were making

progress…

El of a blow for

Abbey Brits ABBEY National will have a Spanish

chief executive once the £9 billion

takeover by Banco Santander Central

Hispano is completed, it was announced

yesterday.

The Spanish bidder's chairman Emilio

Botin squashed expectations that a Brit

would be appointed to the post.

Investor tries to block Abbey dealAbbey National faces a high court challenge to its £9bn takeover

by Banco Santander Central Hispano because of concerns

about criminal charges faced by executives of the Spanish bank.

The Sun

The SunDaily Telegraph

The Daily Mail

The Daily Star

Express on Sunday

Independent on Sunday

Abbey bids adios as listing

goes to Madrid SHARES in Abbey National, Britain's second-biggest

mortgage lender, traded for the last time yesterday ahead

of the completion of its Pounds 9.6 billion acquisition by

Banco Santander Central Hispano, Spain's biggest bank.

The Times

Benchmark Employee Opinion

We launched our first Employee Opinion Survey (EOS)

It wasn‟t great – we were c.20 points below the sector

average in most areas

Staff said we were particularly bad in the following areas:

– Making Abbey a rewarding place to work

– Delivering for customers

– Senior leadership visibility

Undeterred, we carried on…

7 7Communication channels open…

8 8Business begins to turn around…

Daily Telegraph

The Independent

City AM

Reuters

The Times

The Sunday Times

Yorkshire Post

The Independent

9 9Corporate profile improves…

Financial Times

The Times

As Abbey chief executive Antonio Horta-Osorio told Gordon Brown at

last month's meeting at 10 Downing Street, there is a real threat that

high funding costs will result in smaller building societies being priced

out of the market.

Mr Darling met representatives from the six biggest clearing banks

yesterday, Lloyds, Barclays, RBS, HBOS, Abbey and HSBC, to agree

measures to help home owners before they get into debt.

“Antonio Horta-Osorio, the chief executive of Abbey, then left Brown

with some stark choices. If you want the big banks to end up with

100% of the UK mortgage market, the straight-talking Spaniard said,

then do nothing. If you want choice in the market – and for building

societies to survive – then the government would have to do

something.”

FINANCIAL TIMES“The chief executive knew that he faced a serious challenge and

decided, as he had when creating Santander's Brazilian business and

running its Portuguese operations, to move quickly. “

“Among those attending Downing Street with Gordon Brown on

Tuesday were Sir Fred Goodwin of Royal Bank of Scotland, John

Varley of Barclays, Andy Hornby of HBOS, Michael Geoghegan of

HSBC, and Antonio Horta-Osorio of Abbey. “

10 10Consumer media onside…

Savings

Credit Cards

Mortgages

11 11Employees told us “you need to do more”

We repeated the survey a saw a slight improvement, but not

significant.

Building on the three themes we added two more:

Making Abbey a rewarding place to work

– Delivering for customers

– Senior leadership visibility

– Communications

– Improving how we work together

We engaged our senior leadership population to manage

this

12 12New communications channels…

QuickTime™ and a decompressor

are needed to see this picture.

13 15Nothing like a crisis…

14Corporate Press Score

45 05 -40 -95

-235

-695

-700

-600

-500

-400

-300

-200

-100

00

100

18

Further UK acquisitions

Awareness building...

Awareness of Santander has increased considerably

– Over 90% of consumers recognise the brand

Customers value and appreciate the strength and financial security that being part of a global bank offers

Customers will have the advantage of greater access to Santander through more than 1,300 branches

For employees, greater career opportunities, more development

A strong commercial rationale for the change…

18 19“Three into one” - introducing Santander‟s values and brand

A new brand promise…. “ We want your business. So we’re always

looking to make banking work better for you and we’ll never take you for

granted”

Introducing the Group values – leadership, dynamism, commercial

drive, innovation, strength and professional ethics

Introducing the worldwide employee brand “Santander is you”

– a global initiative that aims to build engagement with our employees

and reinforces the advantages of working for a successful global

company.

– The key focus of the 2009 campaign is that Santander is a close, strong

and solid company, which is why it is the best place to work.

19Rebrand as part of a new strategy

20The rebrand - reception 20

21 18“We are Santander”

“You speak, we act”

A more rewarding place to work – up 22%

Delivering for customers – up 22%

Senior Leadership visibility – up 9%

Communications – up 17%

Working Together – up 10%

Moving us from below the average of the sector to being above

average in most areas

Understanding of our vision – stands at 84%

96% of staff understood why we were rebranding

Pride in the Santander brand stands at 91%

22 21What have we learnt?

A rebranding has to be led by the employees

Rebrands should not be attempted with:

– High-levels of internal disengagement / disengagement

– Limited or no understanding of the rationale

Business success is only one driver of engagement – it is also a

relative measure

Rebrands have to be perceived as a „step change‟ – with benefits

for employees and customers

Timing is everything

Don‟t use an electric blind to reveal your new brand