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.
Read the full story on tearsheet.co
More in Marketing
Why the New York Times is forging connections with gamers as it diversifies its audience
The New York Times is not becoming a gaming company. But as it continues to diversify its editorial offerings for the digital era, the Times has embraced puzzle gamers as one of its core captive audiences, and it is taking ample advantage of its advantageous positioning in the space in 2024.
Why B2B marketers are advertising more like consumer brands to break through a crowded marketplace
Today’s marketing landscape is more fragmented than ever. Like consumer brands, business brands are looking to stand out in a crowded and competitive marketplace, making marketing tactics like streaming ads, influencers and humorous spots more appealing.
As draft puts WNBA in spotlight, the NBA is speeding up ballplayers’ transition to creators
The NBA’s star athletes are its greatest marketing asset.