JP Morgan Chase, concerned with customers' decimated confidence in the banking industry, are using messaging in ads to buoy confidence in Washington Mutual, which it recently acquired, reports The New York Times.
Chase is deflecting the bad buzz and branding questions with tongue-in-check headlines, like “We love Chase. And not just because they have a trillion dollars,” and more direct tags, like “WaMu & Chase. Safe & secure.”
The ads successfully steadied the flow of deposits from WaMu, Thomas Kelly, a spokesman for JP Morgan told The Times.
Edelman's US president and CEO, Matt Harrington, told The Times, “It's more comforting for consumers to be treated candidly: ‘We're in uncharted waters. We're doing our best. We want to hear your questions. We're here to help you. . . You gain a lot of credibility.”
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The Los Angeles Times is reportedly making cuts to newsroom.