Ignore social networks at your peril, wealth managers warned
Many firms view social networking as another marketing channel, but are underestimating the damage that the growing power of blogging can do, writes Scorpio Partnership.
Last month Hung Huang, dubbed in the West “The Oprah of China”, took to the social networks to berate Deutsche Bank Private Wealth Management for the quality of its service offer.
Via the microblogging site Sina Weibo, on which she has a staggering 2.7 million followers, she is quoted as saying: “Deutsche Bank offers the worst private banking service in the world. They have nearly turned me into a proletarian.”
Huang’s comments have been forwarded and reposted thousands of times…
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