Peter Kurer, chairman of the bank UBS, which is arguably the world’s largest wealth manager and the bank most highly leveraged in sub-prime mortgage loans, was recently quoted by Reuters as suggesting that the damage to their reputation (read, brand) from the sub-prime mess will “go away after two or three years”.
That’s not brand management, that’s brand abdication. “Goes away?” Brand reputations don’t “go away”, they are merely replaced by new perceptions. What has Kurer in mind for replacing a brand perception damaged by $37 billion dollars in asset write-downs and two recent requests for emergency cash infusions?
Time heals all wounds? Not so fast.
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