For the third year, Euromoney is asking the industry to vote on the banks with the most powerful brands, but we're going further in 2018 and looking at the impact of factors like corporate social responsibility (CSR), diversity, employee advocacy and leadership on brand perception.
The survey is a representative reflection of the banking industry's views, with 774 responses last year from senior bankers and marketing executives. Euromoney received responses from 86% of the top 50 corporate and investment banks in the world. JP Morgan held firm to the top spot as the most powerful banking brand in both 2016 and 2017, with Goldman Sachs second in both years, while Citi went from fourth in 2016 to third in 2017. Despite coming seventh overall, Deutsche Bank has also been voted the bank that needs the most improvement to its brand for the past two years running.
The findings of the survey for the past two years have also allowed Euromoney to introduce the concept of Rival Advocacy. Rival Advocacy, or the way your peers perceive your bank and talk about your business, influences the effectiveness of your brand and can be a powerful way to enhance your reputation, drive business and attract talent. Explicit recommendations are always valuable, but when your bank is being mentioned as a benchmark or standard, competitors are making an implicit endorsement which can be equally effective in lifting your bank's reputation.
So, which bank do you think has the most powerful brand? Do you track how your bank is perceived by peers? Should your company be more focused on areas such as CSR and diversity to improve your own brand perception? Euromoney values your expert opinion and we would appreciate you taking around 10 minutes to complete the survey.
All participants who complete the survey will receive a complimentary 3 month subscription to Euromoney.com.