Adam's family saving grace
Article Abstract:
The communication strategy of private bank and investment manager Adam and Co helped it retain the confidence of clients and shareholders even after two of its dealers lost 21 million pounds sterling of a client's funds. The Edinburg-based company quicklyimplemented measures to control the disaster, including obtaining new capital from a principal shareholder and imposing new controls. More importantly, Adam and Co made it a point to inform its clients and shareholders, either by letteror telephone, about the incident before they learned about it from the press. This approach helped the bank preserve its reputation despite having been involved in one of the biggest banking shocks in Scotland. No official figures are available, but reliable sources estimate that Adam and Co's banking operations lost only about 20% of its deposit base due to the incident.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1993
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Relations overcast by cloudy conditions
Article Abstract:
The McGrigor Donald-CA Magazine business banking survey for 1993 shows that there needs to be an improvement inrelations between banks and businesses. Results of 418 extensive telephone interviews with members of the Scottish business community show that 26% of theparticipants bestowed the highest possible rating for overall satisfaction withtheir relationship with their bank while only 5% gave the lowest score. However, 53% also said that banks are 'fair weather friends.' In-depth, face-to-face interviews prove that such a negative perception on banks stem from fears and anxieties generated by changes in the banks' policies on lendingand pricing, and in the way they serve their clients. The survey also shows that general satisfaction increases with frequency of contract and the size of the business.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1993
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Bridging the divide
Article Abstract:
Clydesdale Bank PLC will have a new chief executive officer in the person of Charles Love upon the retirement of Richard Cole-Hamilton in the later part of 1992. Prior to his selection as the Scotland-based bank's new CEO, Love headed TSB Bank PLC's Scotland and Northern England operations which he succesfully guided through a difficult period of reorganization. Since Cole-Hamilton is still in office, Love is spending his time getting acquainted with Clydesdale's personnel, studying the change structure of the bank, participating in some of the bank's projects and getting to know Clydesdale's parent company, the National Australia Bank. One of Love's many plans for Clydesdale is to make it as prominent in the East of Scotland as it is in the West and North.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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