Doremus, the business communications agency, and the Financial Times, conducted a worldwide study with over 700 senior level executives to find out how they felt about their investment bank.
October 26, 2006 (Press Release) --
FOR IMMEDIATE RELEASE … October 26, 2006, New York, New York … Doremus, the communications company that understands the business of business, and the Financial Times, have partnered for the fourth year to study 723 C-Level and senior level executives in North America, Europe and Asia.
The good news: Trust is gradually improving.
Trust for financial and technology suppliers improved this year over the past three years. Investment banks, which were at the bottom of the barrel in prior Doremus/FT studies, have finally moved up. Today they rank as “most improved” in the area of trust since 2003, the first year of the study.
Yet, despite improvements in overall trust levels, nearly half of the senior executives charged with making decisions about which investment bank their company will use expressed concern about banks that focus on trading and investing for their own account.
Carl Anderson, President and CEO of Doremus, noted that, “We are beginning to see a positive shift in how banks are viewed by their clients. That said, there is still concern that conflicts of interest exist. This concern will inevitably impact the bank’s brand equity in the marketplace.”
What Banks Can Do to Maintain Trust
Banks can reexamine their hiring criteria, and can also re-examine scenarios that may be regarded by clients as conflicts of interest.
Banks can also be faithful to communicating their brand’s unique standards and offerings to their customer base.
About the Financial Times
Financial Times is one of the world's leading business information brands, internationally recognized for its authoritative news, comment and analysis. Whether in print or online, the Financial Times is essential reading for the global business community.
Printed at 24 sites worldwide, the Financial Times newspaper has a daily circulation of over 434,000 and a readership of more than 1.5 million people worldwide. FT.com (http://www.ft.com) is one of the world's leading business information portals, and the Internet partner of the Financial Times. FT.com has 5 million unique monthly users that generate more than 45.7 million monthly page views.
About Doremus
Doremus (www.doremus.com) is known for its understanding of complex, considered decisions, multiple target audiences, and identifying the best communications channels to magnify budgets at all levels. Over 100 years old, with offices in the key business centers of the world, Doremus is constantly evolving to meet the marketing communications needs of business. Doremus is a member of the Omnicom Group.
Omnicom (www.omnicomgroup.com) is a leading global advertising, marketing and corporate communications company.
The good news: Trust is gradually improving.
Trust for financial and technology suppliers improved this year over the past three years. Investment banks, which were at the bottom of the barrel in prior Doremus/FT studies, have finally moved up. Today they rank as “most improved” in the area of trust since 2003, the first year of the study.
Yet, despite improvements in overall trust levels, nearly half of the senior executives charged with making decisions about which investment bank their company will use expressed concern about banks that focus on trading and investing for their own account.
Carl Anderson, President and CEO of Doremus, noted that, “We are beginning to see a positive shift in how banks are viewed by their clients. That said, there is still concern that conflicts of interest exist. This concern will inevitably impact the bank’s brand equity in the marketplace.”
What Banks Can Do to Maintain Trust
Banks can reexamine their hiring criteria, and can also re-examine scenarios that may be regarded by clients as conflicts of interest.
Banks can also be faithful to communicating their brand’s unique standards and offerings to their customer base.
About the Financial Times
Financial Times is one of the world's leading business information brands, internationally recognized for its authoritative news, comment and analysis. Whether in print or online, the Financial Times is essential reading for the global business community.
Printed at 24 sites worldwide, the Financial Times newspaper has a daily circulation of over 434,000 and a readership of more than 1.5 million people worldwide. FT.com (http://www.ft.com) is one of the world's leading business information portals, and the Internet partner of the Financial Times. FT.com has 5 million unique monthly users that generate more than 45.7 million monthly page views.
About Doremus
Doremus (www.doremus.com) is known for its understanding of complex, considered decisions, multiple target audiences, and identifying the best communications channels to magnify budgets at all levels. Over 100 years old, with offices in the key business centers of the world, Doremus is constantly evolving to meet the marketing communications needs of business. Doremus is a member of the Omnicom Group.
Omnicom (www.omnicomgroup.com) is a leading global advertising, marketing and corporate communications company.
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