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In the wake of the financial crisis: rebuilding the image of the finance industry through trust




The financial services industry is undergoing one of the most tumultuous times in its history and the consequence has been a precipitous decline in the public‟s trust in the industry and in its leadership. This article provides an overview of the construct of trust, describes why crisis events erode trust, and offers guidelines for how to rebuild trust following a crisis. Using the principles of crisis leadership as a backdrop, the article demonstrates the significance of integrity, positive intent, capability, mutual respect, and transparency on the trust building process.

Suggested Citation

  • James, Erika Hayes, 2009. "In the wake of the financial crisis: rebuilding the image of the finance industry through trust," Journal of Financial Transformation, Capco Institute, vol. 27, pages 37-41.
  • Handle: RePEc:ris:jofitr:1382

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    References listed on IDEAS

    1. John Williamson, 2000. "The Role of the IMF: A Guide to the Reports," Policy Briefs PB00-5, Peterson Institute for International Economics.
    2. Raffer, Kunibert, 1998. "The tobin tax: Reviving a discussion," World Development, Elsevier, vol. 26(3), pages 529-538, March.
    3. Stanley Fischer, 2001. "Exchange Rate Regimes: Is the Bipolar View Correct?," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 3-24, Spring.
    4. Nunnenkamp, Peter, 2002. "IWF und Weltbank: trotz aller Mängel weiterhin gebraucht?," Kiel Discussion Papers 388, Kiel Institute for the World Economy (IfW).
    5. Stephany Griffith-Jones & Stephen Spratt, 2003. "Basel II and Developing Countries: Diversification and Portfolio Effects," FMG Discussion Papers dp437, Financial Markets Group.
    6. Griffith-Jones, Stephany & Segoviano, Miguel Angel & Spratt, Stephen, 2003. "Basel II and developing countries: diversification and portfolio effects," LSE Research Online Documents on Economics 24824, London School of Economics and Political Science, LSE Library.
    7. Nunnenkamp, Peter, 2001. "Umbaupläne und Reparaturarbeiten an der internationalen Finanzarchitektur: eine Zwischenbilanz aus deutscher Perspektive," Kiel Working Papers 1078, Kiel Institute for the World Economy (IfW).
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    More about this item


    Financial services industry; trust; credbility;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing


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    1. Crisis management in Wikipedia English ne '')


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