In an effort to salvage its damaged reputation, Putnam Investments
has rolled out a new advertising campagin, the Boston Herald reports.
A series of full page ads crafted as an open letter from Charles E. Halderman
, Putnam’s new ceo, Steve Speigel
, vice chairman and A.J.C. Smith
, chairman promise to ‘restore accountability, integrity and confidence’ by actively addressing market timing and making appropriate changes.
The ads were created by Boston-based ad agency Hill Holiday Connors Cosmopulos
, known for its work helping to repair the reputations of high profile clients. Recently, the firm rolled out a campaign for Tyco International
, whose former ceo, Dennis Kozlowski
is currently on trial for crimmal fraud. The agency has also worked with PriceWaterhouse Coopers
for simliar reasons.
However, last week in an ironic twist, Hill Holiday’s parent company, Interpublic Group of Cos.
, fired Putnam as the manager of its 401k plan.
On the other hand, Janus
has announced that it has postponed a marketing campaign until next year because of the mutual fund scandal, the Denver Business Journal reports.
In a third quarter conference call last week, Janus ceo Mark Whiston
said the company decided to postpone the upcoming television campaign which was designed to stress "the diversity of the Janus product mix," because of "recent events."
A Janus spokesperson said the company plans to launch the campaign after the regulatory issues have been resolved, but did not say when.
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