Several leading wealth management players have seen the notional value of their brands fall sharply amid the downgrading of the reputations of struggling financial services businesses.
Several leading wealth management players have seen the notional value of their brands fall sharply amid the downgrading of the reputations of struggling financial services businesses.
Merrill Lynch, now part of Bank of America, has fallen to 62nd in the ranking of the top 500 banking brands, down from 30th in 2008, a compilation by Brand Finance, in association with The Banker magazine, shows.
That cuts the value of its brand, considered a key tool for portraying the strength, stability and service qualities of a financial institution in order to attract the confidence of customers, from individuals through to SMEs and major corporations, to $1.7 billion. Last year it was worth $5.7 billion.
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