Today marked the debut of Voya Financial Inc. (NYSE: VOYA), as the financial services company announced the change of its name from ING U.S.
The change is the latest in a multistep rebranding process that will continue throughout 2014, according to the company. Voya Financial will now appear in place of ING U.S. on press announcements, investor relations materials and other corporate resources.
Voya Financial’s philanthropic arm, formerly the ING U.S. Foundation, has also rebranded as the Voya Foundation.
Today’s change affects the publicly traded parent company that serves as the umbrella corporation for Voya Financial’s operating companies. Voya Financial’s businesses and subsidiary legal entities will make their transition from the ING brand pursuant to the following schedule:
- May 1, 2014 — ING U.S. Investment Management will rebrand to Voya Investment Management. The Employee Benefits business will also begin to transition to Voya Financial, and expects to complete this transition by September.
- Sept. 1, 2014 — All remaining ING U.S. businesses will begin using the Voya Financial brand and all ING U.S. legal entities that currently incorporate the ING name will change to Voya.
Given the initiative’s scope, the company is staggering the rebranding so that it can proceed “in an orderly fashion.” As a consequence, some stakeholders may encounter both the ING and Voya Financial brands in use between April and September. After September, the company states, additional time may be required to rebrand products, services and client-facing resource.
“Voya is an abstract name coined from the word ‘voyage,’” says Ann Glover, chief marketing officer of Voya Financial. “We believe it reflects momentum and optimism, and a view towards the future. It also associates well with the color orange, which remains a distinctive attribute of our brand.”
The businesses that make up Voya Financial today were formed through a series of acquisitions by Amsterdam-based ING Groep N.V. dating back to the 1970s. Consumer advertising to promote the ING brand in the U.S. was later introduced in 2001.
In March, television and digital advertising began incorporating a tag line to signal that ING U.S. is becoming Voya Financial. Additionally, client- and distributor-focused campaigns are scheduled in the coming months to promote the new brand and support key phases of the rebranding process, the company says.
Until the company’s new Voya Financial website is launched in September, a transitional site can be accessed here. This site will also direct stakeholders back to the ING U.S. website.