Bank of America's head of marketing winning the brand wars
So, who does Bank of America CEO Brian Moynihan really report to? "Who are we kidding? We know that we all report to Anne," he quipped at a recent event in Boston. He was talking about Anne Finucane, the bank's global strategy and marketing officer.
Finucane has worked for Bank of America and its predecessors for 16 years and made herself "a trusted adviser to one bank CEO after another--a survivor. She is also the only member of the company's 13-person senior management team based in Boston," notes the Boston Globe.
She has a tough job obviously. The bank's many woes, including some really thorny ones stemming from ex-CEO Ken Lewis' purchase of Countrywide, have translated into harsh media coverage and some pressing image challenges. As the bank seeks solutions to its problems, it also seeks to repair its brand.
Finucane has spoken with Moynihan about the bank's strategies almost every weekend. "And together, they produced an ambitious set of initiatives to rebuild the bank's brand, including quickly repaying the government, maintaining its commitment to local charitable organizations, ending some of the most onerous consumer fees, and modifying its marketing message."
She oversees 2,000 people in marketing, public relations, philanthropy and lobbying teams as well as brand management. Is that effort bearing fruit? Time will tell.
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