It’s time for banks to clean up their houses.
At least, that’s the message Bank of America svp Lou Paskalis sent last month when he announced the bank will hire a brand safety officer to ensure the company’s ads aren’t served up next to controversial content.
“I get a text from my chief financial officer every time there is news about a brand safety issue. I know why he is sending them to me… at some point he is going to say ‘gee is marketing safe to invest in?’ and we don’t want that,” he said.“We have to clean up our house right now.”
Paskalis is part of a growing, yet somewhat puzzling trend: Top marketers at giant financial institutions are becoming the new most vocal people demanding change in marketing, evangelizing a cleanup of digital media, or simply becoming more “woke.”
It’s perhaps a little ironic: These are heads of marketing at companies that are part of an industry still recovering from the reputational crises brought during the financial crisis. Their investment banking counterparts continue to rack up fines for things like anti-money laundering violations and market manipulation — things that have long run rampant in the industry and perhaps always will.
More in Marketing
Retail leaders at Target, Lowe’s and more on the AI investments they’re plotting for 2026
Anywhere from 33% to 83% of respondents used AI to do their holiday shopping in 2025.
Why cookware brand HexClad is sitting out of the Super Bowl for a broader field
With Super Bowl ad costs hitting $8 million, brands like HexClad are pivoting to streaming and other sports stages for a better marketing bet.
Inside the brand and agency scramble for first-party data in the AI era
Brands are moving faster to own first-party data as AI and privacy changes alter the digital advertising landscape.