More Bank Advertising Nonsense
There’s a fresh example of brand advertising by a big bank that is little more than self-congratulatory nonsense. This time it’s Caixa, the top savings bank in Spain.
The SEC Allows Private Fund Marketing: Now What?
The SEC has just opened the door for broad public marketing of investments from start-ups, hedge funds and private equity firms, breaking a taboo that has been in place for 80 years. No, we’re not likely to see Henry Kravis pitch buyout funds on late-night television alongside ads for pizza and discount furniture. But some […]
Good Companies, Bad Advertising
Here’s a new investment strategy: sell shares of any company that trots out new advertisements that reek of self-importance. Morgan Stanley and Apple – which both have new campaigns running now – would top the list.
An Echo from Refco
Law firm Mayer Brown LLP has quietly settled claims it aided a $1.5 billion fraud at Refco, the brokerage that collapsed in 2005. Unlike Refco’s spectacular fall, the news brought no front-page headlines, only a modest report in a trade journal based on a routine court filing. But Refco still holds lessons for today.
Gary Gensler’s Big Sound Bite
Big banks are in a battle over new trading rules now being considered in Washington, and they’re in a tough spot. Not only are the banks deeply unpopular, they are also up against a regulator who knows how to sling an effective sound bite.
KPMG: How Not to Handle an Insider Trading Scandal
Chiefs of accounting firms don’t often make headlines. So it was surprising to see KPMG Chairman Michael Andrew tell a reporter that the insider-trading scandal involving a former partner was not a big deal. Is that really the best message for the CEO when his colleague commits a crime?
Oh, Canada: Where Banks are Liked
There’s a lot to like about Canada: passionate hockey fans, abundant maple syrup, universal health insurance. Oh yes, and boring, very successful banks. Their winning formula is rooted in a consistent strategy, strong messages and solid execution. It’s enough to make us consider an office north of the border.
Advice from the SEC for Asset Managers who Really Want to Tweet
It’s rare to see guidance from a regulator that results in less paperwork. But that is the likely impact of new guidelines from the U.S. Securities and Exchange Commission on the use of social media by asset management firms.
Thank You, Standard Chartered
Trying to downplay your culpability after a settlement with regulators is a very bad idea. Just ask Sir John Peace, chairman of Standard Chartered, the UK bank. His public shaming is a useful lesson for which financial firms everywhere should be grateful.
Banco Santander’s Branding Boast
I like advertising. I think it’s an important part of an integrated communication strategy. But a little-noticed ad from Santander, the Spanish banking group, is a gem of absurdity.