Trade of the Week: Reputation Insurance

A new market has emerged to help companies mitigate the costs of PR disasters

The reputation of the banking industry and its biggest brands continues to take post-crisis knocks, as evidenced by Goldman Sachs (again) yesterday. But a new market has emerged to help companies mitigate the costs of PR disasters.

The global banking industry is still recovering from the global financial crisis, but for some institutions the blows just keep on coming. Yesterday, former Goldman Sachs staffer Greg Smith resigned from the US bank via an op ed in the New York Times in which he claimed the institution had become "toxic" and routinely worked against the interests of its clients.

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