Investor’s Notebook: A very different Absa branch
At the Mall of Africa last week I had to wear shades as I stepped into the banking hall. Standing out from the dull pastel colours was a fake gold sign saying, of all things, “Absa”. The colour scheme and design of the branch had more in common with a Virgin Atlantic lounge than any of the more humdrum branches in the Absa stable.This initiative is the brainchild of a very different Absa retail team, headed by Craig Bond. The head of retail channels, Marius de la Rey, was the founder of King Pie (no, not King Price Insurance, which is often known by that name — the real King Pie in all its calorific glory). He was later MD of Mugg & Bean. So he doesn’t see a branch in the same way as your typical pin-stripe bankers do. He hired some tattooed designers to design a branch, and they brought in plenty of yellow and purple. If they had planned to include Barclays blue, all the relevant items had been discreetly removed before the branch opened at the end of April.De la Rey says that howe...
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