Sangeeta Mulchand
Nov 13, 2008

Feature... Financial players rethink the course

Financial brands have their work cut out as economic uncertainty puts pressure on budgets and demands a more caring approach towards consumers.

For two intense weeks in September, newspapers and TV news were filled with images of panicked Asian depositors queuing outside branches of Bank of East Asia in Hong Kong, emptying their ICICI accounts in India, and frantically seeking to cash out their AIG insurance policies.

Immediate and effective communications diffused the situations, but consumers in Asia still remain jittery, while long-trusted industry brands are finding themselves uncomfortably vulnerable.

Ironically, the region’s brands...

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