We released our second annual Wall Street Reputation Study this week and the 2013 results are startling. The financial services industry, which helped ignite a financial crisis almost five years ago, is now in the midst of a deeply rooted reputation crisis that continues to impact business. Some of the key findings of this year’s study are: Nearly half of financial services companies lost 5% or more in business due to reputation and customer satisfaction issues, equaling hundreds of millions of dollars. 60% percent of marketing and communications executives in charge of restoring and building brands at financial service companies told us it could take up to another five years to restore their reputation to 2007 (pre-financial crisis) levels. Contagion: the #1 reputation threat going forward for financial services firms is distinguishing themselves from their competitors’ serious reputation and customer service issues. In a self-assessment, company programs now in place were ranked as “somewhat effective” in improving perception of financial services firms. The study was conducted among communications and marketing executives at large and mid-sized financial services companies operating in the U.S. in May 2013. It identifies the biggest threats and road blocks to the financial services industry, as well as the programs that helping to improve reputation. To see more and an infographic on the financial services industry’s road to recovery follow this link. http://bit.ly/17Cthas