Trustco changes name

Lost amid more dramatic, headline-grabbing events at a recent shareholders meeting of Toronto-based Royal Trustco was a nonetheless important marketing development that will have a significant effect on the financial institution's future identity.The trust company, which has been sold to the...

Lost amid more dramatic, headline-grabbing events at a recent shareholders meeting of Toronto-based Royal Trustco was a nonetheless important marketing development that will have a significant effect on the financial institution’s future identity.

The trust company, which has been sold to the Royal Bank, will now operate under the name Gentra, a new corporate moniker that was created to give the company a contemporary, global appeal.

Naseem Javed, president of ABC Namebank, a company specializing in name development and who created Gentra, says the name is consistent with a trend in the financial services industry.

‘Old style financial names are dying out,’ Javed says. ‘Names that are geographic-specific like Bank of Nova Scotia or Toronto Dominion, and names that are descriptive in an Old World sense such as Continental or Royal are proving to be a burden in the new global arena.’

Javed says the types of names that financial institutions are opting for today are often original and have a crisp, aesthetic appeal.

In the case of Gentra, Javed was working to a brief that sought a new umbrella name for the almost century-old Royal Trustco that would have credibility as a high-end financial organization and would have no more than six letters, so that the name could appear without abbreviation on public stock exchanges.

Javed found the answer by working from the word ‘gentry,’ which has many of the connotations of sophistication and blue-chip qualities that were part of the new name’s mandate.

Once the name was established, Javed passed it through masses of data to ensure that it did not conflict with the many competitors that Royal Trustco enounters in its markets around the world.