- UBS launched its global "House of Craft" initiative at an event in New York City in October.
- The campaign highlights artisanship in various fields, including the lucrative watchmaking industry.
- UBS's CMO spoke to BI about strengthening the company's reach after acquiring Credit Suisse in 2023.
In a SoHo townhouse in New York City, UBS launched its global "House of Craft" initiative, an experiential campaign that honors the tradition of craftsmanship. At the celebration, the Swiss-based global financial firm focused on the watch industry, gathering an array of horologists, timepiece enthusiasts, and executives to discuss the art and commerce behind fine watchmaking.
The three-day event, which UBS hosted in partnership with the luxury watch retailer and media company Hodinkee, included fireside chats with celebrities such as former NBA star Carmelo Anthony and actor Daniel Dae Kim.
Executives such as Ginny Wright, the CEO of the Americas for Audemars Piguet, and Jean-Claude Biver, a legendary watchmaker and the former CEO of TAG Heuer, also took center stage to talk about leading in the watch industry.
The gathering was the first experiential foray into UBS's overarching 2024 brand campaign, called "Banking is Our Craft," which was rolled out in January. The goal is to align the bank's legacy and expertise with esteemed artisanship.
John McDonald, UBS's group chief marketing officer, told Business Insider that his team tested a wide range of messaging before settling on the theme.
"The creative idea that resonated most effectively for us across clients and prospects and across geographies, was craft — the idea of banking, investing, advice being elevated to a craft," McDonald said. "It was a unique way of summarizing 160-plus years of history, the dedication, commitment to excellence, that's part of the Swiss heritage we have — but also nods to innovation, and to humanity."
Telling a brand story in the wake of major corporate moves
The "Banking is Our Craft" campaign launched less than a year after UBS acquired the embattled Credit Suisse — at the request of the Swiss government — to help stabilize the global economy. To shepherd the merger, the bank rehired its former CEO, Sergio Ermotti, who left in 2020.
Ermotti approached McDonald, who joined UBS in January 2023, to develop a campaign to communicate the bank's position. "He said it would be very important for UBS to make sure we were out talking to clients, prospects, and the broader universe of stakeholders about who UBS is, what we do, and why we're unique," McDonald told BI.
The initiative had to be global and work for the whole bank. "That's not exactly a simple task," McDonald said. It was also an accelerated process because the campaign had to launch "as soon as possible," he added.
Publicis Groupe and the brand consulting firm Prophet developed the plan with UBS. Budget specifics were not disclosed, but McDonald said the campaign was the biggest launched by the brand since 2015. The campaign rolled out in 10 markets over the course of 60 days; it started on January 23 in the UK and the US and then made its way to Asia and Latin America.
UBS's absorption of Credit Suisse hasn't been without complication. Earlier this week, the Swiss regulators mandated an overhaul of the bank's emergency plan. This raised the question, why move so quickly with a brand campaign of this size?
"If you don't define who you are, others will do it for you," McDonald said. "As challenging as an integration this size is, you have to grab the challenge and make the most of it. It's an opportunity to build a growth platform for the firm. That starts with how you explain who you are and what you do."
Convening around craft
New York City's legacy of fine craftsmanship made it the choice destination for UBS's first "House of Craft" event. Coincidentally, the gathering took place during Advertising Week New York.
Among the featured celebrities and executives were local watch enthusiasts. One attendee, James Miller, learned about the event through Hodinkee's promotional efforts.
Miller told BI that he's an avid collector of micro-brand watches. "The opportunity to see people who are here, getting introduced to UBS, were the opportunities I wanted to take advantage of," he said.
Another attendee, Nathan Desloover, discovered the event through his membership in the Horological Society of New York. He said he also wanted to see the session featuring Todd Snyder, a menswear designer.
"I've been going to as many of those events as I can," Desloover said, wearing a cotton-silk stitched sweater from Snyder's eponymous label. "I'm interested in not only the style of watches, but I'm also trying to make some of my own designs."
Connecting with people who have a passion for craftsmanship was the goal, McDonald told BI. "This is a brand campaign, but it's one very clearly associated with making sure more people are positively thinking about us," he said. "That turns into a business benefit, a bottom-line benefit. We essentially are priming a group of people who maybe aren't ready to buy UBS services, to make sure that they are familiar with us."