By opening day Monday, every bank will have at least one Chase Texas sign hanging outside. So far, the bank figures it has invested 15,000 hours of work in the process. Much of that involves high-priced talent. For example, all computerized forms have to be changed. It makes real sense to have one name for a national brand.
Companies can save vast sums with national advertising buys.
Taking a corporate name Shelaghmichael Lents, the TCB manager of retail banking, said if Texas Commerce were merely a middle-market bank dealing primarily with local companies and customers, the name change would not have been worth it. But that's only about a third of their business, she said. If a Texas company has business in Switzerland, for example, it makes sense to offer the same services under the same name both here and in that country. Chase, the parent company, also has about as many Texas customers as does Texas Commerce. Those are mostly people who carry a Chase credit card or have an auto loan.