Headlines

Public relations tips, tactics and trends
Volume Three, Number Three

Welcome to Headlines, a free newsletter published by Polaris Public Relations with practical information about the PR industry.

Manulife Financial and Portus – a PR coup

We’ve talked in the past about the do’s and don’ts of good PR practices. But we’re also believers in the adage that actions speak louder than words.

This spring Manulife Financial found itself at the centre of a major scandal surrounding Portus Alternative Asset Management Inc. Many of Manulife’s customers had purchased investments with Portus as a result of a referral by a Manulife advisor. Unfortunately for these investors, regulatory authorities in several jurisdictions were investigating Portus. As a result of this investigation, Portus laid off most of its employees and basically wound down its operations.

Investors were potentially faced with losses in the millions of dollars. As a major marketer of the Portus fund, Manulife stood to lose credibility with its customers. In addition, a class action lawsuit was filed against the insurance company by disgruntled investors.

As the scandal unfolded, Manulife’s plan of attack was simple, but effective. Executives immediately stepped up to the plate, with Manulife president and CEO Dominic D’Alessandro front and centre. Manulife topped it off with a bold but effective message: a promise the company would guarantee the recovery of 100% of the principal amount their customers had invested with Portus.

Let’s take a look at some of the other steps Manulife took to preserve its image as a company of integrity after things went so terribly wrong at Portus:

D’Alessandro has been accessible from day one, issuing statements, agreeing to interviews and making it known that he is personally involved from beginning to end.
   
Manulife has declared itself accountable and has not tried to deflect blame.
   
The executive team moved into action swiftly and effectively, spearheading a comprehensive in-house due diligence investigation that will examine all its activities in this area.
   
The language used in all of D’Alessandro’s and the executive team’s messaging is simple, clear, concise. Most importantly, it’s filled with language the average person can comprehend.
   
D’Alessandro’s communications to customers, while occasionally using the collective "we", is liberally scattered with "I".
   
D’Alessandro himself assumed the role of a "man of the people," a role that was supported by his executive team who, in conversations with the media consistently referred to him by his first name (a subtle but effective touch).
   
One announcement of note from D’Alessandro is his statement to customers that: "We will, in effect, ‘stand in your shoes’ and aggressively pursue all avenues to secure and recover invested funds."

Now that’s reputation management at its best.

© 2005 Polaris Public Relations. All rights reserved.

Shelley Pringle is principal at Polaris Public Relations, an associates-based PR agency that offers a full suite of communications services. She can be reached at 416.597.1518 or shelley@polarisprinc.com.






Expect the unexpected

A crisis can happen at any time and without warning. The best defense is to prepare in advance.

While no one can thoroughly plan for every conceivable risk, Polaris Public Relations can help your organization with some likely scenarios. And through this process you’ll learn some important principles to deal more effectively with the unlikely scenarios.

Call us at 416.597.1518. We’d be pleased to discuss your needs and develop an affordable package for your organization.


If you’d like to suggest a topic for a future newsletter, or have a comment on this one, email us at info@polarisprinc.com.

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