Sector: Financial services; Banking

Services:

• Purpose: Role of business in society; Narrative

• Strategic communications: Capital markets; Senior counsel

The initial task was to work with a new leadership team to rebuild the reputation of one of the UK’s largest banks following the 2008 financial crisis.  There was a secondary objective of minimising the impact of any further crises.  Over time, the primary objective developed to focus on growth of the bank with a positive vision for the future.

In the initial phase, the overarching strategy was to demonstrate the safety and security of the bank to all stakeholders.  As the management team implemented their refreshed corporate strategy, the reputation strategy underpinned the key message that this is a bank that was there for the long-term and working in the interests of its customers, staff and the UK as a whole.

With this successfully executed, we were well positioned to set out a vision for the bank they are set to become.

When the CEO left the bank to move to another role, the reflections on his tenure focused on how much the bank had changed from the height of the crisis.  This coverage and the largely positive accolades from commentators were proof of how much the perception of the bank and its management team had shifted over time, reflecting the changes they had implemented.