Aviva is looking at bringing its Norwich Union and Morley investment arms under a single, global Aviva Asset Management brand, sources close to the company say.
Morley is best known in the UK market for its property management team although its retail fund is branded Norwich Property. It is understood the insurer is concerned it is not punching its weight in investment and believes bringing its investment teams under a single global brand would remove a lot of investor and intermediary confusion.
Marketing expert Kim North says it would be a good move for Aviva, as there would be more clarity for those who are not so sure where one brand starts and the other ends.
She says: “If it were to be branded Aviva Asset Management, you could argue that the business as a whole could well be the better for it. There are similar issues going on with Abbey and Santander and the Lifetime platform, which is being rebranded to Norwich Union. Clarity is the long-term solution.”
Aviva launched from the merger of CGU and Norwich Union in 2002 and over 20 of the group’s trading businesses have been rebranded although the group has kept the Morley brand, citing the importance of its investment arm being seen to be independent.
A spokesperson for Morley says: “There are no imminent plans to change the branding.”