Public Image 1, Reality 0
Merrill Lynch (now part of Bank of America) understood the value of reputation. As a financial services company providing advice to clients as to the placement of their investments, dependent as it is on the fees arising from that advice and related transactions, reputation is everything. Reputation is founded in the squishy intangibles of trust, ethics, good governance and conduct. The old Merrill Lynch knew a lot about the value of these qualities, as they were often accused of not having any by their employees. Most ultimately ex-employees…
