Today’s afternoon, I received an email from Citiseconline about the change of their corporate name. The Securities and Exchange Commission (SEC) of the Philippines has approved their change of name from Citiseconline.com, Inc. to COL Financial Group Inc.
The announcement doesn’t specify whether they will also change their website or not so make sure to keep updated on the on-going transition. The email mentioned that Citisec will inform its clients about the recent events and developments maybe again through email.
Why Change the Name?
One good reason why to change the name of the company is to correct the name and make it more appropriate for investors and to align it with the goals of the company. I just assume Citiseconline will venture out in other investing opportunities not only in stock investing so they make it more general with the addition of the word “Financial” to the new company’s name. This may cover banking, stocks, mutual funds, insurance and other financial investments.
I think the name change will not greatly affect Citiseconline unlike famous brands such as Jollibee or San Miguel. It has different case with other companies.