ŠŠŠumica | Friday | 1PM
There are only a handful of scenarios feared by the banking industry as much as a bank run. Yikes. Banks should be synonymous with stability — because we all like sleeping soundly knowing the bank holds our money safely and securely. And that has to do with the bank’s communication — but what happens if a significant number of clients start to withdraw their funds from the bank at the same time? Now we are dealing with crisis communication. So how do we alleviate the panic and what communication tools can we use to reach the client quickly and efficiently?
You will learn what it feels like to be in the middle of a bank run from a man who has found himself on a sinking ship only last year when First Republic Bank failed after their clients suddenly pulled out more than $100 billion. We will discuss the requirements we put on the banks, what happens when a bank does fail, who steps in, how they communicate such a situation and of course — what to do as a client in this unlikely event. Join Vlaho Hrdalo (Partner at Hrdalo & Krnic Law Firm, Chairman at UBIK), Marija Hrebac (Head of Croatian deposit insurance agency), Sasha Bogunovic (Senior VP, Comerica Wealth Management, Ex Manager in First Republic Bank) and Neven Vidaković (CEO, Loti Trading LLC and Board Member, Escont Partners LLC and Trading Club LLC) for an intriguing discussion on safeguarding financial stability and navigating crisis communication in the banking sector.
