Tracking Reputation and the Management of Perception at UniCredit
Armin Herla
Introduction
Reputational Risk: A Short Introduction
What History Teaches Bankers about Reputation Management
An Asset–Liability View of Banks’ Reputation
Reputational Risk in the Universe of Risks: Boundary Issues
Corporate Governance Changes Following Reputational Damage in the Financial Industry
Reputational Risk and Prudential Regulation
Managing Stakeholder Expectations
Environmental and Social Risks from the Perspective of Reputational Risk
The Relationship between Reputational Risk Management and Business Continuity
Tracking Reputation and the Management of Perception at UniCredit
Successful Recovery from Reputational Crises: Legitimate versus Illegitimate Risk Case Studies
Reputational Risk Management Across the World: A Survey of Current Practices
Governance as the Starting Point for a Reputational Risk-Management Process
Managing Reputational Risk in a Major European Banking Group
The Implementation of the UniCredit Group Approach
Promotional Banks: An Introduction to Reputational Risk Management
Reputational Risk Management in a Global Insurance Company
Reputational Consequence Management: The Future
REPUTATION IN THE BANKING SYSTEM
The end of the 2000s was marked by the subprime mortgage crisis and the insolvency of many banks, events that kicked off an unprecedented global recession. The subsequent crisis of the European sovereign debt, together with the erosion of the reputation of the financial sector, has undermined public confidence in the ability of banks to support the real economy. The 2008 financial crisis turned the spotlight on the issue of trust and has shown how essential it is for a bank to operate in a sustainable manner. This has led to an increasing focus on the long-term stability of the financial sector, as well as on the professional conduct of banks and their ability to be responsible “corporate citizens”.
While reputational risks concern precise actions, events or situations, reputation itself is a more general and long-term concept. It can be seen as a result of several actions, events and situations over time, all of which build an overall perception of how a company behaves. Or, in short, reputational risk control is one of the means to achieve a good reputation as the end result. Therefore, not only is the regular monitoring of reputation necessary
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