Connected marketing with Mike Symes Trust – the most important asset we have
In my previous column in Business Money, I wrote about the importance of authenticity as the foundation for all financial brands. I have spoken at two conferences
recently, the first being the Reputation in Financial Services Summit and the second, A Key Person of Influence. In both forums, authenticity and trust were placed at centre stage.
Look up the word “trust” in the Oxford Dictionary and it states its meaning as “acceptance of the truth of a statement without evidence or investigation”. If you look at the front of a £10 note, you’ll find the phrase “I Promise” and on a dollar bill, “In God We Trust”. The whole of our financial system is based on trust and the delivery of promises. As Robert Phillips, UK CEO of Edelman, said: “Trust is an entry which does not appear on a bank’s balance sheet. As an important asset, perhaps it should.” According to the tenth annual Trust
Barometer, published at the World Economic Forum in Davos, for the first time, trust (72%) and transparent and honest business practices (64%) are seen as the most important drivers of corporate reputation in the UK.
Continued from page 19
GE Capital focuses on growth with senior appointment
GE Capital has announced that Elmar Lukas has been appointed managing director, equipment financing for GE Capital in EMEA. The creation of the new role will support GE Capital’s focus on growing and expanding its equipment financing business across Europe. Elmar will oversee the company’s equipment financing portfolio and be responsible for leading and executing the equipment financing and leasing strategy across the region. He will report into Isabel Fernandez, chief commercial officer for GE Capital in EMEA.
Isabel said: “Elmar’s appointment combined with our investment in technology, and our pan-European expertise, will help our customers as they return to growth mode.”
20 November/December 2010
At the reputation conference, Justin Basini, author of Why Should Anyone Buy from You?, explains that “in highly consolidated markets where products are complex and risky, where human interaction is the key lever to get
right...financial services brands have the opportunity to prosper – not by being different but by making a difference.” Furthermore, an independent survey
In Banks We Trust?, launched to a financial marketing panel in November this year, reveals that 58% of financiers feel that corporate communications is key to improving the reputation of the sector.
Roger Steare, corporate philosopher and visiting professor of organisational ethics at Cass Business School, City University, London, visited our group at FIDES recently. He addressed the issue of the triple bottom line consisting of people, planet and profit: “Current accounting standards are another part of the problem. These are only capable of accurately describing 20% to 25% of the
Prior to his appointment, Elmar acted as commercial leader for GE Capital’s leasing business in Germany and, before that, was aircraft leader for GE Capital in EMEA, growing the company’s corporate aircraft leasing portfolio five-fold in a period of five years. Prior to joining GE, Elmar spent several years in the leasing industry in Germany.
GoIndustry DoveBid appoints Finlo Corrin as business development director
GoIndustry DoveBid is pleased to see the return of Finlo Corrin, who has joined the company as business development director, responsible for all new business development in London and the south east of England, primarily in the bank and asset-based lending and corporate recovery sectors. Prior to this, Finlo spent 16 years at Henry Butcher, and has more recently
Business Money Finlo Corrin
been working as senior asset manager, Europe at GE Capital Solutions and as a partner at Sanderson Weatherall LLP.
Finlo commented: “I’m very excited to be back at GoIndustry DoveBid; this is definitely a case of the right role at the right time.” Continued on page 22
full economic value of any enterprise. The alternative of triple bottom line accounting standards is beginning to address this issue, but we are still left with a massive void – our failure to measure the value of human relationships, with all stakeholders, that are the core fundamentals of all human activity.” In a market where trust, according to the media, is at a premium, it may yet prove to be the premium on which the financial services sector relies.
Mike Symes is managing director of Strand Financial, the specialist financial marketing agency.
mike.symes@
strandfinancial.com
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