среда, 7 марта 2012 г.

Banks zero in on reputational risk

Recent corporate scandals have made executive fraud, misconduct and reputational damage a staple of the mainstream media. In response, Canadian companies, especially financial institutions, have set up board and executive-level committees that focus on threats to their reputation, which may be their most valuable intangible asset.

A good reputation can influence customers to select a brand or dissuade them from moving to a competitor. But once it has been tainted, restoring public confidence is extremely challenging. To quote Nicholas Le Pan, Canada's superintendent of financial institutions, "There is no other basis for the financial services business than trust and confidence! …

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