Introduction

Thomas Kaiser and Petra Merl

Reputational risk – or RepRisk – is an emerging topic in the universe of risks. On the one hand, reputation is a key asset for every institution, every corporation and every bank. It is the basis for trust, customer and employee loyalty, business partnerships, transaction volume and ultimately earnings. On the other hand, during the financial crises the reputation of all banks suffered across the whole industry. That is why reputation seems to be regarded as an ever more important and fragile asset. Financial institutions have governance structures, methods and processes in place that deal with improving reputation and at least some aspects of keeping reputation, such as public-relations departments, marketing departments, issue-management processes, crisis communication processes and so forth. While those approaches have their merits, managing reputation without systematically identifying, assessing, reporting, managing and monitoring the risks threatening it generally does not lead to an efficient institutional set-up.

Thus some of the major financial institutions have started to implement methods and processes for dealing with the issue of

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