Opinion: From our Readers - Big challenge of trust in the financial sector

Anthony Hilton raises an interesting point about perception and reality (News, 24 October). But the 'sudden' collapse of trust has been years in the making. For the past decade, Edelman has tracked the growth in credibility of peer group communications at the expense of the top-down, CEO-led kind - and what we see today is merely a practical application of that trend.

What is beyond dispute is that trust in the banking industry has all but melted away. The next 12 months will present major challenges to communicators in the financial services sector and to banks in particular, but this is not the time to adopt a bunker mentality. As the British taxpayer takes up residence on the share register of some of our most important financial institutions, an ability to reach out to, and empathise with, the man or woman in the street will be essential.

Paul Lockstone, managing director, Edelman.

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