A few paragraphs from a longer article.
Are Bell Pottinger's clients fleeing because of morality or cowardice?
I have a confession to make. For many years I have done business with an international financial organisation that has been involved in money laundering.
This same shameless company has been investigated for illegally manipulating the markets to maximise its profits, for enabling some pretty dodgy individuals to evade taxes and profit from drug-trafficking, and which has also been fined hundreds of millions of pounds for mis-selling its products.
What an unsavoury outfit. And yet I still choose to bank with HSBC because, for the most part, it’s always been pretty good to me.
This is the same Richemont that, while selling clean-living luxury goods and boasting of its sustainability credentials, prefers not to talk about its massive investment in tobacco.
This is the same Investec whose name cropped up hundreds of times in the so-called Panama Papers after controversial law firm Mossack Fonseca was hacked.
On top of which, when the heat of this scandal has abated as it surely will, their more enlightened clients will recall the great service they’ve received and the loyalties that they’ve built over many years of successful reputation enhancement.
Some of their clients, like my HSBC, might have behaved unethically. Some of their bosses’ decisions, like those at HSBC, were unforgiveable. Some of their behaviour, like HSBC’s, was obscenely arrogant.
Yet, like HSBC, they also provide a largely brilliant service to customers who, like me, value loyalty and know that the best companies learn from their inevitable mistakes.
Personally, I think those who are currently abandoning Bell Pottinger are showing not a moralistic courage but a panicked cowardice.
http://www.prweek.com/article/1443886/bell-pottingers-clients-fleeing-morality-cowardice