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Thursday May 19, 10:47
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Morgan Stanley’s ads will be pulled out from media with negative publications
(by Julia Jenson)
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Morgan Stanley has introduced a new rule on its advertising stipulating that the investment bank will have the right to add a clause to its advertising contracts that will allow it to remove ads that are put close to negative articles about the company. The request was addressed to the companies including Wall Street Journal, USA Today, and other major publications.
This request was probably caused by the stream of publications at a time when Morgan Stanley is under the lashes of fierce public criticism from investors and analysts.
A spokeswoman for Publicis Groupe’s Starcom USA, the bank’s advertising agency, stated that the practice was not unusual.
"The majority of our clients, as is the industry standard across nearly every medium, has content-driven clauses in their media contracts. It is just smart business," she said.
The main news driver was the fight conducted by eight executives that are trying to oust chief executive Philip Purcell. This battle that aims at replacing the leadership of the company to improve its financial results received broad coverage in the media.
However, it remains questionable whether this strategy is going to have any positive effect on Morgan Stanley’s public image or raise the effectiveness of its advertising campaign. However, there is a probability that the company will be able to make better use of its advertising dollars.
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