With all the doom and gloom in the banking sector these days it's good to hear good news for a change.
My favorite bank, Bank of America, was recently named the world's "Most Admired Megabank" by Fortune magazine and the top bank in 2009 Brand Keys Customer Loyalty Engagement Index.
In its annual survey of global corporate reputations, Fortune editors examined 1,400 companies covering 64 industries from around the globe. This year's survey marked the first time Fortune combined U.S. based companies with non-U.S. based companies to come up with a global most admired list.
According to Fortune, some 4,047 executives, directors and securities analysts were asked to rank the companies using nine criteria, from investment value to social responsibility. Bank of America topped the list of so called megabanks with an overall rating of 6.69, just ahead of JPMorgan Chase and Credit Suisse Group, which were both rated 6.53. Wells Fargo was fourth, followed by Deutsche Banks, ING Group and BNP Paribas. Overall Bank of America was ranked 26th on the Most Admired list.
Bank of America was ranked #1 in its peer group for innovation, social responsibility, and quality of products and services. Bank of Bank was ranked second in the areas of people management, quality of management and long term investment.
Consumers do not participate in the survey and Fortune editors made the point this year to acknowledge that the "Most admired List" should not be regarded as an indicator of consumer sentiment. Instead experts are asked to evaluate companies on how well they they stick to and execute their business strategy.
However, consumers are polled in the Brand Keys Customer Loyalty Engagement Index. And there, Bank of America also ranked #1 in the banking category.
Brand Keys--which specializes in customer loyalty research measuring brand equity--polled 26,000 consumers of 441 brands in 63 categories earlier this year. In general, Brand Keys found that consumers are still attracted to top brands provided they feel they are getting good value for their money. Among banks, according to Brand Keys, Bank of America excelled with consumers in the categories of trust and acumen.
There is positive news out there everywhere. Let's turn the negative around and bring back happy days again for everyone.
My favorite bank, Bank of America, was recently named the world's "Most Admired Megabank" by Fortune magazine and the top bank in 2009 Brand Keys Customer Loyalty Engagement Index.
In its annual survey of global corporate reputations, Fortune editors examined 1,400 companies covering 64 industries from around the globe. This year's survey marked the first time Fortune combined U.S. based companies with non-U.S. based companies to come up with a global most admired list.
According to Fortune, some 4,047 executives, directors and securities analysts were asked to rank the companies using nine criteria, from investment value to social responsibility. Bank of America topped the list of so called megabanks with an overall rating of 6.69, just ahead of JPMorgan Chase and Credit Suisse Group, which were both rated 6.53. Wells Fargo was fourth, followed by Deutsche Banks, ING Group and BNP Paribas. Overall Bank of America was ranked 26th on the Most Admired list.
Bank of America was ranked #1 in its peer group for innovation, social responsibility, and quality of products and services. Bank of Bank was ranked second in the areas of people management, quality of management and long term investment.
Consumers do not participate in the survey and Fortune editors made the point this year to acknowledge that the "Most admired List" should not be regarded as an indicator of consumer sentiment. Instead experts are asked to evaluate companies on how well they they stick to and execute their business strategy.
However, consumers are polled in the Brand Keys Customer Loyalty Engagement Index. And there, Bank of America also ranked #1 in the banking category.
Brand Keys--which specializes in customer loyalty research measuring brand equity--polled 26,000 consumers of 441 brands in 63 categories earlier this year. In general, Brand Keys found that consumers are still attracted to top brands provided they feel they are getting good value for their money. Among banks, according to Brand Keys, Bank of America excelled with consumers in the categories of trust and acumen.
There is positive news out there everywhere. Let's turn the negative around and bring back happy days again for everyone.
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