Banks experience humble
side of leadership

With the dissolution of investment banks, the falls of Lehman Bros. and Bear Stearns, and the recent absorption of Washington Mutual into JPMorgan Chase, financial service advertisers are doubling-down on ad spend to calm what customers they have left.

Last week saw a flurry of marketing activity in the finance space. Banks — including Fidelity, Charles Schwab, CME Group, T. Rowe Price, Prudential and TIAA-Cref — refurbished websites, sent soothing emails and purchased ad space in stable dailies and business publications. Each brand plugged its own version of the same mantra: we are trustworthy and reliable, reports Advertising Age.

Charles Schwab, for example, ran an "Open Letter to America's Investors" in The Wall Street Journal. "We believe it's important to reach out to our clients — and the general public — in times of market uncertainty," a Schwab spokesman wrote to AdAge.

TIAA-Cref tapped agency Modernista! to plug its positive rating from agencies like Standard & Poor's. "Since when did survival become the bar?" its headlines quip.

MarketWatch, a Dow Jones property, blasted WSJ subscribers with emails offering a 30-day free trial, loaded with tools for helping users navigate a murky financial climate.

And AIG — which recently dissolved into a financial puddle — withdrew the long-standing "Strength to Be There" tagline from its website. In banner ads running on sites like Business Insurance, the insurance firm peddles a humble new message: "The support our customers and brokers have shown us this last week has been overwhelming. We Thank You."