Trust Banks are Marketing Again

In 2008, many leading trust banks made big marketing pushes in order to compete for the record-breaking number of wealthy U.S. households. But they withdrew when the Wall Street collapse and the Bernie Madoff scandal made the marketing irrelevant.

Recently, these trust banks have been re-infiltrating the market with expensive and bold advertisements. The banks, including Bessemer Trust and BNY Mellon, are already seeing results from the millions that they’ve spent on advertisements.

See Scott Martin, Pricey Wealth Management Ads are Back, The Trust Advisor Blog, June 19, 2010.