EACD Working Group: Finance and Insurance

August 2009

1. Your Working Group recently met at the European Communication Summit. What have you and members taken from the event/meeting?

It was an interesting event because of the variety of subject matters presented and disciplines represented. The networking opportunities with people from all over Europe who share similar interests, albeit often from a different professional angle, was considered highly interesting by members of our Working Group.

2. Can you sum up the Working Group's activities so far?

We had out first Working Group meeting in June 2007, and hosted our first Panel Discussion (on ‘Financial Communication on the Web’) at the European Communication Summit in 2008. We contributed to Trimedia’s ‘Latest Developments in Financial Communications’ in November 2008, and were the subject of an interview in the Portguese magazine ‘Meio Publicdade’ in April this year. We hosted a Panel Discussion on ‘Restoring Reputation and Trust in the Banking Sector during the Financial Turmoil’ at the recent European Communication Summit, as well as holding a review and planning meeting later at the same event.

Our Working Group has been active since the early days of the EACD, and has hosted several events since coming into being. We have hosted panel discussions at the European Communication Summit in both 2008 (‘Financial Communication on the Web’) and 2009 (‘Restoring Reputation and Trust in the Banking Sector during the Financial Turmoil’). We have held Group meetings at EACD events and independently, and have contributed to Trimedia’s ‘Latest Developments in Financial Communications’ in 2008, as well as being the subject of an interview in the Portuguese magazine ‘Meio Publicdade’ in April this year.

3. What are your plans for the Working Group for the future?

We currently have two main aims for the near future: firstly, we wish to fully capitalise on the networking opportunities which the EACD offers through the use of social media; secondly, to continue to provide high-level panel debates for Working Group members.

4. What are the most relevant issues for your Group at present?

We have looked into several potential issues that are of significant interest to our members, with the idea of using one as a topic for the next Working Group meeting in November. These issues include whether the industry is now in a better position than it was a year ago, how we can re-engage our shareholders, where financial services will be in five years and whether increases in regulation are necessary for the sector.

5. Are there any trends on the horizon in your field that will have a big impact on the members of your group?

The financial crisis has surely had an impact on the way people think about communication. During the last summit, the following topics were tackled by the panellists: how to adjust the communication strategy to the current financial situation; focusing on the basics (customers); the role of the CEO; methods to assure customers that your organisation is handling things in the correct fashion; how to increase the confidence and trust of investors, analysts and customers in your institution; how to move towards a more customer-oriented method of communication.

6. Can you explain how the Working Group keeps in contact with its members?

Members of the Working Group keep in contact in many ways, such as via personal contacts, e-mail traffic and social media networks.

7. What do you personally hope your Working Group can achieve within the EACD network?

I hope that our group can increase awareness of communications issues in the financial sector, to open channels of communication between EACD members with common interests, to share insights and best practices, and to build a stronger network amongst people who share the same passion for “communication”.