ING's new name revealed
ANZ has revealed the new name for the ING business which it took full ownership of last year.
Thursday, August 5th 2010, 10:40AM 
30 Comments
The new name for its specialist investment and life insurance businesses is OnePath.
ANZ New Zealand chief executive Jenny Fagg says that now the bank fully owns the ING business "we have 
more opportunities to grow in the large and rapidly expanding wealth market.
"The new brand represents an exciting step for this business. It recognises that successful wealth businesses need to be positioned and to operate as specialists with capabilities that support the particular needs of customers and advisers. This includes continuing our long-standing commitment to and relationship with independent professional financial advisers."
She says that today's announcement is the first step in a communications programme for advisers and customers ahead of a public launch of the OnePath brand later this year. Under a transitional services agreement with ING Group, ANZ has the licence to use the ING brand until November 2010.
"OnePath will be New Zealand's largest manager of retail investment funds including KiwiSaver and will hold a leading position in the insurance, wholesale investment and listed property markets," Fagg said.
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Comments from our readers
On 5 August 2010 at 11:11 am Johnny Adviser said:
One Path. The logo looks like it has two. No likey. Sounds very wishy washy new agey, designed by a committee, signed off by a chick. On 5 August 2010 at 11:30 am Casper said:
Sounds like the name of a new age church. Rapture. On 5 August 2010 at 11:47 am Really! said:
YAWN, what moron came up with this! On 5 August 2010 at 12:49 pm Anonymous CHICK said:
Hey Johnny Adviser, the comment "signed off by a chick" is just offensive.... its 2010 not 1950 ...... On 5 August 2010 at 12:56 pm Whatsinaname said:
Right up there with Zespri and Cervena if you ask me. I hope the staff have thick skins and keep their sense of humour for the next few days. But, as long as OnePath delivers the promised wealth to investors, do we care what the name is? On 5 August 2010 at 1:12 pm Wally said:
Garden Path On 5 August 2010 at 1:40 pm sue said:
who every thought Asteron.... OnePath is a hell of allot better... On 5 August 2010 at 1:56 pm MOY said:
What an absurd name. Surely ANZ have enough funds at their disposal to pay professional marketers to come up with a brand, rather than just running a staff poll and picking the weirdest?! On 5 August 2010 at 2:30 pm Old fashioned said:
I suppose it's no worse than other meaningless names like AXA/Asteron, but it will be an impediment to client confidence as it has no brand credibilty or profile. Call me old fashioned, but what's wrong with a name that communicates something direct and straightforward? Onepathetic more like. On 5 August 2010 at 2:34 pm Rob said:
Do you REALLY think they would run a staff poll to pick a company name?!? Its whats behind the name that counts On 5 August 2010 at 3:15 pm MOY said:
AXA was apparently chosen as it reads the same backwards, forwards, in the mirror, and means nothing in any language. Quite clever I think. Unsure what Asteron means but less of a mouthful than Royal Sun Alliance! On 5 August 2010 at 4:40 pm Mark said:
All that money to come up with Onepath as a name. Means very little to me and sure will mean even less to consumers.
Hate to say it, but ANZ Life is better than this nonesense. No wonder Naomi left.or
On 5 August 2010 at 6:01 pm Andrew said:
Looks like the Australian Labor Party new face but the same old names in the background.....did you read the Grieve report On 5 August 2010 at 6:05 pm Independent Observer said:
I wouldn't worry too much about the name - it's not one that will be around in years to come On 5 August 2010 at 10:12 pm Burnt too said:
I believe "garden path" would be more representative of the leadership in the finance industry too. On 6 August 2010 at 7:43 am John Milner said:
What a bunch of mean spirited moaners. Take a look at yourselves and ask what have you actually achieved in your pathetic lives except snipe without giving your full names. I wonder what incrediblle brands you trade under: Bill Smith & Associates, Jack Jones & Co? On 6 August 2010 at 9:02 am Kevin Wike said:
I quite like it. On 6 August 2010 at 9:35 am Leon said:
Its not very original; its a take off from ASB's slogan One Step a head. On 6 August 2010 at 11:59 am steve said:
I'm sure when Nike was first suggested as the name for a shoe company everyone laughed at it. What counts is what ING does about making the story about helping customers on their chosen path to fianncial wellbeing come alive. I like that it represents the relationship between the company and advisers. ING has only done as well as it has because its looked after advisers better than anyone else. Good on you ING for coming up with something distinctive which isn't just a silly acronym or made up word. I also like that its a fresh colour rather than the stale corporate blues and dark reds of almost everyone else in the industry. On 6 August 2010 at 12:11 pm Independent Observer said:
In response to John Milner's rant: It can be challenging to fully understand the direction of a rip when you’re caught up in it.
The perception of those who have aligned their businesses closely to the fortunes of OnePath, is that all past wrong-doings will be forgiven with a name-change.
The reality is that many ordinary investors have had a guts-full of financial institutions putting their well-being ahead of the investor – forcing regulators to impose change and determine equitable outcomes from disputes. If entities such as ING/OnePath had been more sympathetic to their fiduciary duty in the first place (and I’m not ruling out those aligned advisors who were caught up in the marketing & incentives being offered) then perhaps a name change wouldn’t be required.
Unfortunately many in the NZ financial services industry don’t like to be challenged or forced to consider other perspectives – forcing numerous opinions to seek shelter behind nom de plumes
On 6 August 2010 at 2:25 pm Chrissy said:
'Path of no return' would be been a better fit. On 6 August 2010 at 2:27 pm Pistol Pete said:
Re: "ING has only done as well as it has because its looked after advisers better than anyone else." ...
Scary truth in this - ING is only rebranding because of it's terrible returns for investors (thanks to looking after advisors better than everone else at investors expense).
On 6 August 2010 at 3:29 pm Johnny Adviser said:
Uhm, they're changing the name as they no longer have rights to use it, given the Dutch have sold. On 6 August 2010 at 3:50 pm Roger said:
wasn't there a radical terrorist faction sometime in the 70's with this name? On 6 August 2010 at 4:04 pm Rob said:
ANZ purchased ING in OZ and NZ. The name change has nothing to do with hiding the truth or trying to shy away from wrong-doings. I don't understand why so many people believe it is for any other reason other than because of a company buy out??? Do you not read the newspaper or watch t.v? On 6 August 2010 at 4:21 pm pewpew said:
The name has to be changed because it is not ING anymore. ING sold the business to ANZ Group. On 6 August 2010 at 4:24 pm alan said:
hope it's better than Onestep On 6 August 2010 at 10:19 pm Get Real said:
I really don't think the name is the issue at ING. I don't see any sign that the firm has cleaned up it's act post the CDO fund debacle. The report to the Commerce Commission was damning and I can see why the Frozen Funds group are grumpy. Here's a quote from the report that relates to the sensitivity of the credit exposure in the funds.
"ING loaded the portfolio with spread duration without disclosing it, specifically, to investors and without targeting or managing spread duration. Not only was the pricing risk not disclosed to investors, ING did not deliver the appropriate level of professional service to manage that risk, as promised. This omission defies belief."
Reports to the Commerce Commission aren't a place for flippant or unsubstantive claims.
I think they need to do more than change their name.
On 4 November 2010 at 11:08 am emma said:
I'm unsure as to why ANZ needed to look offshore for design talent to create their new identity. There are so many talented folk in Australia and New Zealand who live and breathe the design environment of the clients they work for. On first impression a number of my colleagues spotted similarities in appearance between the Countdown logo or agricultural colours. These links, I'm sure, are not favourable in the eyes of an insurance company. Commenting is closed
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OnePath is a contemporary, positive brand which brings alive our promise to our customers. The name reflects our role as a company which helps people shape and protect the quality of their lives, recognising that there is a different path for each and every one of us.
The logo is designed to be approachable, energetic, modern and distinctive. It reflects the relationship we have with our advisers and customers and gives a strong sense of moving forward together. The endorsement line highlights that we have the strength and backing of the ANZ Group.
"We are very excited about our new brand and I hope that you feel the same way too. If you have any feedback on the new name and logo we’d love to hear it."