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  • Financial PR: - Liam, Abhinav, Hasnain, Aruksha, Sneha

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    Pratham Kamdar
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    This document summarizes two case studies about financial public relations challenges and crisis management: 1) Forge Global saw success revamping their communications strategy with a new integrated approach including media training, relationships, and pitches, garnering coverage in major financial publications. 2) ICICI Bank initially said they had minimal exposure to Lehman Brothers collapse, but this backfired as media uncovered higher exposure and potential liquidity issues, showing risks of aggressive denial in a crisis.

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    Financial PR

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    This document summarizes two case studies about financial public relations challenges and crisis management: 1) Forge Global saw success revamping their communications strategy with a new integrated approach including media training, relationships, and pitches, garnering coverage in major financial publications. 2) ICICI Bank initially said they had minimal exposure to Lehman Brothers collapse, but this backfired as media uncovered higher exposure and potential liquidity issues, showing risks of aggressive denial in a crisis.

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    16 views8 pages

    Financial PR: - Liam, Abhinav, Hasnain, Aruksha, Sneha

    Uploaded by

    Pratham Kamdar
    This document summarizes two case studies about financial public relations challenges and crisis management: 1) Forge Global saw success revamping their communications strategy with a new integrated approach including media training, relationships, and pitches, garnering coverage in major financial publications. 2) ICICI Bank initially said they had minimal exposure to Lehman Brothers collapse, but this backfired as media uncovered higher exposure and potential liquidity issues, showing risks of aggressive denial in a crisis.

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    © All Rights Reserved
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    of 8

    FINANCIAL PR

    -LIAM, ABHINAV, HASNAIN, ARUKSHA, SNEHA.


    WHAT EXACTLY DOES FINANCIAL PR
    INVOLVE

    • It involves dealing with both the financial media and financial


    community.
    • Launch initial public offerings.
    • Showcasing financial performance.
    CHALLENGES FACED BY FINANCIAL PR

    • Damage Control
    • Financial Constraint
    • Interacting With Consumer
    • Poor Usage of Social Media
    • Client’s Expectation Management
    CASE STUDY 1 - FORGE GLOBAL

    • THE SITUATION • WHAT THEY DID


    On October 2018, Forge Global, formerly known as Hotwire worked with the CEO and leadership team to
    Equidate, had built momentum in its niche pre-IPO completely revamp their communications strategy,
    private security trading space, but was still seen as building a new and integrated approach. In the midst of
    a fringe player in the fintech space. While they had significant internal changes, the launch of a new name
    seen a couple of early top-tier hits, they hadn’t and brand, and aggressive competitor media outreach
    built the rapport needed to support ongoing
    thought leadership and rapid response
    opportunities.
    THE RESULTS

    • Hotwire built long-lasting relationships between the Forge Global leadership


    team and some of the most critical top-tier journalists in the space. By
    introducing the new brand narrative, media training, robust relationships, and
    well-crafted media pitches, the Hotwire team garnered coverage in WSJ, CNN,
    TechCrunch, Bloomberg, CNBC etc.
    CASE STUDY 2- ICICI BANK: A
    COMMUNICATION CRISIS

    • THE SITUATION • WHAT THEY DID


    The case discusses the crisis communication Chanda Kochhar, MD and CEO, ICICI Bank, issued a
    strategies at India-based financial banking press statement stating that the bank’s UK
    institution, ICICI Bank Ltd. On 15 September 2008, subsidiary had just a 1 percent exposure to Lehman
    the announcement of US-based investment Brothers and hence the bank did not face any
    banking major Lehman Brothers that it was closing liquidity crisis.
    down due to its exposure to subprime mortgage
    loans had a huge impact on ICICI Bank.
    THE RESULTS

    • While industry watchers felt that it was an aggressive response by ICICI Bank
    to come out into the open and accept its exposure to the crisis, the move
    backfired since there was huge media coverage showing ICICI Bank’s exposure
    to the crisis and reports saying that the top management had sold their
    shares and the bank could face a huge liquidity crisis.

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