Daily News: October 17, 2013

Wells Fargo, J.P. Morgan, Citi Ranked Most Improved Reputations

Wells Fargo, J.P. Morgan and Citibank ranked at the top of the 2013 Most Improved Reputation List that ranks financial services companies with the most improved reputations in a survey conducted by Echo Research for communications firm Makovsky.

The survey asked, “Thinking about corporate reputation, what one financial services company has improved the most in the past 12 months?”

This most improved reputation list is part of the 2013 Makovsky Wall Street Reputation Study designed to determine the current state of the financial industry’s reputation and identify best practices and emerging trends. It was conducted by Echo Research among marketing, communications and investors relations executives at large and mid-sized financial services firms.

The 2013 Makovsky Most Improved Reputation List:

1. Wells Fargo
2. J.P. Morgan
3. Citibank
4. Bank of America
5. AIG
6. American Express
7. Merrill Lynch
8. Goldman Sachs
9. Barclays

“It appears that corporate reputation in the financial services industry is on a comeback, but it is a slow, fragile and sometimes dicey recovery,” said Scott Tangney, executive vice president at Makovsky. Our study indicates a very long road to strong reputation remains and the risk of recurring government actions and fines as well as other negative news will impede the entire industry’s image restoration.”

In May 2013 Echo Research completed 151 interviews with executives and managers responsible for the management and supervision of communications, investor relations or marketing at large and mid-sized publicly traded and private financial services institutions. The type of companies surveyed included banks, brokerage firms, asset management firms, insurance companies, real estate companies, credit card companies, mortgage lenders, venture capital firms, credit unions and financial technology firms. The study has a margin of error of +/- 8.0% at a 95% confidence level.

For more findings from the 2013 Makovsky Wall Street Reputation Study click here.