follow the money
Posted by Shirley Brady on July 3, 2012 07:07 PM
In an "ugly" day for the Barclays brand and the banking sector, WSJ's Dennis Berman and David Reilly discuss (above) the departures of Barclays CEO Bob Diamond (who faces a British parliamentary grilling on Wednesday) and COO Jerry del Missier and other scandals that have plagued the world's biggest banks.
Finger-pointing aside, Bloomberg looks at whether this opens the door to Barclays splitting its consumer lending and investment banking divisions. U.S. regulators today released "living wills" — contingency plans for breaking up nine of the world's biggest banks in the event of an emergency.
As for consumer confidence in banks, new research from Ernst & Young shows that "nearly 90% of consumers around the world are satisfied with their bank, but brand owners must tackle declining trust, decreasing loyalty and the rise of social media," as WARC notes.
About 68% of the banking customers surveyed said they were "satisfied" with their main financial services provider, with 19% saying they're "very satisfied", for 87% having a favorable impression overall. However, 40% of contributors had "lost trust" in the banking industry during the last year, compared with 18% who reported "gaining trust" in the same period. More on the E&Y banking customer survey here.