Bank of England has 'most sophisticated' City PR machine, says commentator

As the Bank of England assumes more power after the break-up of the Financial Services Authority, City commentator Anthony Hilton puts its transformation down to having the best PR machine in the City.

'Sophisticated' PR operation: Bank of England
'Sophisticated' PR operation: Bank of England

In his fortnightly column for PRWeek, Hilton said the BoE and its Governor Mervyn King had successfully shifted perceptions of the bank after having been under fire for their role in the failure of Northern Rock.

‘The Bank of England has developed quite the most sophisticated PR machine in the City, and one probably more effective than anything in Whitehall.’

Hilton credited the BoE with being more accessible and remarkably candid on a background basis, and singled out King’s private lunch briefings and meaningful public appearances as having a beneficial effect.

He added: ‘The understanding among the key financial commentators and broader City constituency of what the Bank is trying to achieve, what concerns it has and what it would like to see happen has been transformed.’

Hilton said that other organisations could learn from the BoE’s example, if they could ‘say things that are worth listening to’.

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