Scher's £1.5 Million Napkin Sketch

Author: Tom Ellis
Date: 29.10.23
Read time: 2-3 minutes

In 1998, a seismic shift in the financial world took place. Citicorp and Travellers Group, titans of the industry, merged to form the world's largest financial services firm – Citigroup. Valued at £140bn with £700bn assets under management at the time, today it stands proud with assets worth £1.7 trillion, with the consumer division being famously known as Citibank.

With such a monumental merger, there was an undeniable need for a fresh brand identity. An identity that would seamlessly encapsulate the vast array of financial products the combined entity now boasted. The quest for brilliance led them to Paula Scher and her cutting-edge NYC design agency, Pentagram.

The budget for this brand transformation? A staggering £10 million. The logo alone carried a price tag of £1.5 million. Yes, that’s an eye-watering sum, but when you’re branding a company of Citi’s calibre, the value the logo brings far outweighs its cost.

During the preliminary discussions with Citibank’s leadership, Paula, ever the astute observer, began to doodle on a napkin while absorbing their needs, challenges, and aspirations. What transpired next was nothing short of magic. With a casual flip of the napkin, she declared, “This is your logo.” That seemingly unassuming doodle, crafted in less than five minutes, went on to cement its place as the central piece of Citibank’s new £1.5 million branding.

It wasn’t merely about the doodle. It epitomised the genius of Paula Scher. Two decades of brand identity experience distilled onto that single napkin. A modest sketch, yet a design marvel that tackled Citibank’s intricate challenge of merging two behemoth identities.

What’s truly captivating about this tale is Scher’s unparalleled talent, prowess, and audacity. Her ability to instantaneously grasp the heart of a challenge and address it with a stroke of genius is something many of us can only aspire to. As professionals, whether in entrepreneurship, management, or product management, we all have our personal “napkin aspirations”. We strive, learn, and evolve, aiming for that pinnacle of proficiency and confidence.

The crux? It’s not just about commanding a lofty fee for a piece of work, but the expertise, the journey, and the artistry that underpin it. And while some of us might not yet have reached our ‘Paula Scher moment’, with unrelenting effort, continued learning, and perpetual aspiration, we’re unequivocally on our trajectory there. Until then, we persist in honing our skills, cherishing learning, and await our £1.5 million napkin moment.