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Doremus study finds trust in banks still an issue

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New York—Trust in investment and commercial banks is still a big issue for senior executives, according to a new study from ad agency Doremus and the Financial Times.

According to the study, which was based on interviews with 426 senior level executives, 60% of respondents said the banking scandals of the past few years continue to negatively influence their perceptions of the industry.

Forty-four percent of respondents said memories of those scandals will leave a lasting impression on their perception of some banks; 39% are unwilling or less willing to do business with some banks; and 36% see the scandals as forever changing the process of investment bank selection.

The study also found that 58% of executives at large companies (5,000-plus employees) said that before they assign an investment bank a project, they plan to consider more banks than they had in years past.

—Kate Maddox

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