2015EDELMAN TRUST BAROMETERFINANCIAL SERVICES

2

EDELMAN’S 15th Annual TRUST BAROMETER METHODOLOGY

Informed Public

• 500 respondents in U.S.

and China, and 200 in

other countries

• Ages 25-64

• College-educated

• In top 25% of household

income per age group in

each country

• Report significant media

consumption and

engagement in business

news and public policy

• 15 years of data

General Online Population

• 1,000 respondents per

country surveyed

• Ages 18+

• 4 years in 25+ markets

Online Survey in 27 Countries

• 33,000 respondents

• 7 years in 20+ markets

• 10 years in 10+ markets

3

2014: A CHALLENGING

ENVIRONMENT

4

TRUST IN THE FOUR INSTITUTIONS OF GOVERNMENT, BUSINESS, MEDIA AND NGOS, 2014 VS. 2015

Q11-14. [TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that

institution to do what is right using a nine-point scale, where one means that you “do not trust them at all” and nine

means that you “trust them a great deal.” (Top 4 Box, Trust) Informed Publics in 27-country global total.

THE EVAPORATION OF TRUST: NGOS, BUSINESS, MEDIA ALL DECLINE

BUSINESS

66% 63%

2014 2015

#1

53% 51%

2014 2015

#3

59%57%

2014 2015

#2

45% 48%

2014 2015

#4GOVERNMENTMEDIA

NGOS

Informed

Public

5

Trusted Companies

BEHAVIOR BASED ON TRUST

TRUST MATTERS

Distrusted Companies

Refused to buy products/services Chose to buy products/services-63% 80%

Criticized them to a friend/colleague Recommended them to a friend/colleague-58% 68%

Paid more for products/services 54%

Shared negative opinions online

Shared positive opinions online-37% 48%

Defended company 40%

Sold shares

Bought shares-18% 28%

Informed

Public

Q371-376. Thinking back over the past 12 months, have you taken any of the following actions in relation to

companies that you trust? Please answer yes or no to each action. Informed Publics, 27-country global total.

Q377-380. Still thinking about the past 12 months, have you taken any of the following actions in relation to

companies that you do not trust? Please answer yes or no to each action. Informed Publics, 27-country global

total.

6

67%

63%65%

62%

52%

50%

53%53%

45%43%

45%

48%

62%

60%

63%

64%

43% 42%

44%

47%

2012 2013 2014 2015

Q178-182. When looking for general news and information, how much would you trust each type of source for

general news and information? Please use a nine-point scale where one means that you “do not trust it at all” and

nine means that you “trust it a great deal.” (Top 4 Box, Trust) Informed Publics, 20-country global total.

TRUST IN EACH SOURCE FOR GENERAL NEWS AND INFORMATION

MEDIA SOURCES:SEARCH ENGINES NOW MOST TRUSTED

Online Search Engines 72% (+8)

Traditional Media 64% (+2)

Hybrid Media 63% (+10)

Social Media 59% (+11)

Owned Media 57% (+10)

Informed

Public

Millennials Are Even More

Trusting of Digital Media

7

TRUST IN INFORMATION ABOUT BUSINESS CREATED BY EACH AUTHOR ON SOCIAL NETWORKING

SITES, CONTENT SHARING SITES AND ONLINE-ONLY INFORMATION SOURCES

MEDIA SOURCES: SEARCH ENGINES NOW USED FIRST AND MOST

Informed

Public

TELEVISIONNEWSPAPERS ONLINE SEARCH

25%

25%

21%

24%22%

22%

25%

29%

31%

2013 2014 2015

20%19%

18%

28%27% 27%

26%27% 27%

2013 2014 2015

19% 19%18%

22%

20% 20%

34%

36%37%

2013 2014 2015

The First Source for

General Information

The First Source for

Breaking News

Source Used Most to

Confirm/Validate News

Q183. On a typical day, what is the first source that you go to for general information about business? Informed

Publics, 20-country global total.

Q184. What is the first source you go to for breaking news about business? Informed Publics, 20-country global

total.

Q185. Which of the following sources do you turn to MOST often to confirm/validate information on breaking news

about business? Informed Publics, 20-country global total.

8

Q130-143. [TRACKING] Below is a list of people. In general, when forming an opinion of a company, if you heard information

about a company from each person, how credible would the information be—extremely credible, very credible, somewhat

credible, or not credible at all? (Top 2 Box, Very/Extremely Credible) Informed Publics, 27-country global total.

CREDIBILITY OF SPOKESPERSONS, 2014 VS. 2015

SPOKESPEOPLE: EXPERT AND “A PERSON LIKE YOURSELF” MORE CREDIBLE THAN CEO

70%68%

63%

54% 55%53%

46%

37%

70%67%

63%

56%53%

49%

43%

38%

Academic orIndustry Expert

CompanyTechnical Expert

A Person LikeYourself

NGORepresentative

Financial orIndustry Analyst

RegularEmployee

CEO GovernmentOfficial orRegulator

2014 2015

More Trust Less Trust

Informed

Public

9

31%

40%

50%

3…

43% 43% 41%

25%

33%

41%

26%

34% 34%

31%

47%

51%

67%

56%

60%

63%61%

2009 2010 2011 2012 2013 2014 2015

50%

Global

CEO CREDIBILITY AS A SPOKESPERSON, 2009 – 2015, GLOBAL, DEVELOPED COUNTRIES (U.S., U.K.,

GERMANY, FRANCE, JAPAN) VS. DEVELOPING COUNTRIES (CHINA, INDIA, RUSSIA, MEXICO, BRAZIL),

ALL DATA BASED ON 20-COUNTRY TOTALS

FRESH DECLINES FOR CEO CREDIBILITY

CEOs not credible as spokesperson in three-quarters

of countries

Developing Countries

Developed Countries

Informed

Public

Q130-143. [TRACKING] Below is a list of people. In general, when forming an opinion of a company, if you heard

information about a company from each person, how credible would the information be--extremely credible, very

credible, somewhat credible, or not credible at all? (Top 2 Box, Trust) Informed Publics, 20-country global total.

TRUST IN FINANCIAL SERVICES

11

50%

80%77%

72%

66% 67% 66%63% 64%

61% 61% 61%57%

53% 54%52%

78%75%

71%67% 67% 66%

63% 63%61% 60% 60%

57%54% 53%

51%

TRUST IN INDUSTRIES 2014 VS 2015, DECLINES COMPARED TO 2014

INDUSTRY SECTORS: LOW TRUST IN FINANCIAL SERVICES

Informed

Public

Q43-60. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do

what is right. Again please use the same nine-point scale where one means that you “do not trust them at all” and

nine means that you “trust them a great deal.” (Top 4 Box, Trust) Informed Publics, 27-country global total.

2014 2015

More Trust Less Trust

*% of countries in which trust decreased

12

43% 47%48% 48%

48%45%

50% 50%52%

2009 2010 2011 2012 2013 2014 2015

Trust in Financial Services

50%

TRUST IN FINANCIAL SERVICES SECTOR VS. TRUST IN BUSINESS, 2009 – 2015,

GENERAL ONLINE POPULATION VS. INFORMED PUBLIC

LONG-TERM TREND: RECOVERY HAS STALLED

Informed

Public

47%

50%49% 49%

50%

54% 56% 53%

58% 58%57%

2009 2010 2011 2012 2013 2014 2015

Trust in Business

Q11-14. [TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a nine-point scale, where one means that you “do not trust them at all” and nine means that you “trust them a great deal.” (Top 4 Box, Trust) Informed Publics 20-country global total and General Population, 25-country global total.Q43-60. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics 20-country global total and General Population, 25-country global total.

General

Population

+8 +4

13

FINANCIAL SERVICESDISTRUSTED IN HALF OF COUNTRIESTRUST IN THE FINANCIAL SERVICES SECTOR

INFORMED PUBLIC VS. GENERAL ONLINE

POPULATION

TR

US

TE

RS

2015

General

Population

Informed

PublicGLOBAL 48

Q43-60. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics, 27-country global total and General Population, 27-country global total.

India 77

China 72

Indonesia 72

UAE 69

Malaysia 67

Singapore 62

Hong Kong 61

S. Africa 59

Mexico 57

Brazil 56

Canada 55

U.S. 51

S. Korea 45

Australia 43

Argentina 41

Russia 40

Japan 39

Turkey 37

UK 36

Italy 36

Poland 36

Netherlands 35

Sweden 34

France 33

Ireland 29

Germany 25

Spain 22

NE

UTR

AL

2015

GLOBAL 54

India 86

Indonesia 81

China 80

UAE 79

Malaysia 73

Mexico 68

Brazil 65

Hong Kong 65

S. Africa 63

Singapore 59

U.S. 53

Canada 51

S. Korea 51

Australia 48

Japan 46

Russia 43

Turkey 43

Italy 41

Poland 40

UK 39

Netherlands 39

France 36

Argentina 35

Sweden 35

Spain 33

Ireland 30

Germany 27

DIS

TR

US

TE

RS

14

50%

Lower/Equal Trust in 17 Countries

TRUST IN BANKING INDUSTRY, 2014 VS 2015

TRUST IN BANKSDECLINES IN TWO-THIRDS OF COUNTRIES SURVEYED

2014 2015

Increased Trust in 10 Countries

% Trust

Q43-60. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics, 27-country global total.

Informed

Public

54

80

52

46

40

34

2826

23

16 15

91

8587

78 7774

6468

5962

58

53

42

52

38

32 33

53

81

5351

43

3834 33

29 28

21

85 85 85

76

7168

61 60 5956

5351

42 4137

3228

pg 15

TRUST IN VARIOUS INDUSTRY SUB-SECTORS, GLOBAL AND REGIONAL

55%59%

53% 52%

58%56%

60%57%

55%59%

56%60%

34%

47%

38% 38%

73%71%

63%61%

BANKS CREDIT CARDS/PAYMENTS FINANCIAL ADVISORY/ASSETMANAGEMENT

INSURANCE

Global North America Latin America EU APAC

FS INDUSTRY SUB-SECTORS: HIGHEST LEVELS OF DISTRUST IN EU REGION

Q61A-65A. [TRACKING] Now thinking about specific sectors within the financial services industry, please indicate how much you trust businesses in each of the following sectors to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. Informed Publics, 27-country global total and across 5 regions.

Informed

Public

TRUST IN INNOVATION:

FINANCIAL SERVICES

17

THE PACE OF DEVELOPMENT AND CHANGE IN BUSINESS AND INDUSTRY TODAY IS…

Q349-351. Below are a number of statements. For each, please think about the pace of development and change

in business and industry today and select the response that most accurately represents your opinion. (Not

Enough, Too Much) Informed Publics, 27-country global total.

TRUST IN BUSINESS INNOVATION: PACE IS TOO FAST BY A 2-TO-1 MARGIN

51% Too Fast28% Too Slow

Informed

Public

19% Just Right

18

24%

30%

35%

54%

66%

70%

Make the World a Better Place

Improve People's Lives

Personal Ambition

Greed/Money

Business Growth Targets

Technology

DRIVERS OF CHANGE IN BUSINESS AND INDUSTRY TODAY ARE PERCEIVED TO BE:

INNOVATIONS PERCEIVED AS DRIVEN BY TECHNOLOGY, BUSINESS TARGETS AND GREED/MONEY

Informed

Public

Q353. From the list below, what do you believe are the top three drivers of change in business and industry

today? Informed Publics, 27-country global total.

pg 19

TRUST IN RECENT DEVELOPMENTS IN BUSINESS AND INDUSTRY

BUSINESS INNOVATION: ELECTRONIC PAYMENTS IS ONLY TRUSTED INNOVATION

69%

59%55%

47%

32%

Electronic and

Mobile Payments

Electronic and

Personal Health

Trackers

Cloud Computing Hydraulic

Fracturing

Genetically

Modified Foods

Electronic and

Mobile Payments

Electronic and

Personal Health

Trackers

Cloud Computing

Informed

Public

Q355-359. Below are a number of recent developments in business and industry. To what degree do you trust

each of these recent developments? Informed Publics, 27-country global total.

50%

20

Q360-364: Now thinking specifically about each of the following industries, how much do you trust them to responsibly develop

and release each of these recent developments? (Showing % who trust, rated 6-9). Informed Publics, 27-country global total.

Q43-60. Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please

use the same nine-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great

deal.” Informed Publics, 27-country global total.

Informed

Public

TRUST IN INDUSTRIES’ ABILITIES TO RESPONSIBLY DEVELOP AND RELEASE

INDUSTRY-SPECIFIC DEVELOPMENTS, COMPARED TO TRUST IN INDUSTRIES

BUSINESS INNOVATION:TRUST IN FS TO IMPLEMENT ELECTRONIC PAYMENTS OUT PACES INDUSTRY TRUST

35%

48%

61%

61%

62%

67%

60%

78%

60%

54%Financial Services

Electronic Payments

Health

Personal Health Trackers

Technology

Cloud Computing

Energy

Hydraulic Fracturing

Food and Beverage

Genetically Modified Foods

TRUST INDUSTRY SECTOR TRUST INDUSTRY TO IMPLEMENT EACH DEVELOPMENT

+8

+1

-17

-12

-32

GapTrust in Industry Sector

vs. Trust in Industry to Innovate

pg 21

50%

TRUST IN VARIOUS FINANCIAL SERVICES-RELATED TECHNOLOGY INDUSTRY SUB-SECTORS,

INFORMED PUBLIC AND GENERAL POPULATION

47%

40%

53%57%

68%

60%

47%

66%

73%

58%

Cloud Computing Cybercurrency / BitcoinTechnology

Cybersecurity Technology eCommerce Technology Smart Home Technology

INDUSTRY SUB-SECTORS: TECHNOLOGY SUB-SECTORS RELATED TO FINANCIAL SERVICES INDUSTRY

General

Population

Q61E-65E. [TRACKING] Now thinking about specific sectors within the technology industry, please indicate how much you trust businesses in each of the following sectors to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal.” General Population and Informed Publics, 27-country global total.

Informed

Public

FINANCIAL SERVICES AND

REGULATION

23

46%

54% 54%

40%

53% 52%

24%

15% 16%20%

17%14%

Business Financial Services

Industry

Health Industry Technology Industry Energy Industry Food and Beverage

Industry

Informed

Public2014 TRUST BAROMETER:

51% say the most important

role for government in business is

to protect consumers and regulate business

NOT ENOUGH REGULATION TOO MUCH REGULATION

GOVERNMENT REGULATION OF BUSINESS AND ACROSS

INDUSTRY SECTORS IS PERCEIVED TO BE:

BUSINESS INNOVATION: NOT ENOUGH GOVERNMENT REGULATION

Q148. [TRACKING] When it comes to government regulation of business, do you think that your government regulates business toomuch, not enough or the right amount? (Not Enough, Too much) Informed Publics, 27-country global total. Q262/Q263/Q264/Q381/Q382. When it comes to government regulation of the [financial services industry / energy industry / food and beverage industry / health industry / technology industry], do you think that your government regulates it too much, not enough or the right amount? (Not Enough, Too much) Informed Publics, 27-country global total.

24

50%

GOVERNMENT REGULATION OF THE FINANCIAL SERVICES INDUSTRY: TOO MUCH OR NOT ENOUGH

FINANCIAL SERVICES INDUSTRY REGULATION:MOST COUNTRIES WANT MORE

Not Enough Regulation Too Much Regulation

Q262. When it comes to government regulation of the financial services industry, do you think that your government regulates it too much, not enough or the right amount? Informed Publics, 27-country global total and across 27 countries.

More Trust

% who agree

More Agreement : Not Enough Regulation

54

77 74 7472

6866 66

62 6159 59 58 58

5452 51 51 50

46 45 44 44 43

33

28 2725

15

2 6 3 6 11 1211 12

6

1612

117

8

24

1614

5

34

27

1310

1825

4039

19

Informed

Public

25

71%

73%

75%

76%

77%

Financial services industry/future of the bankingsystem

Energy industry/energy policy

Food and beverage industry/food and nutritionpolicy

Technology industry/privacy issues

Health industry/health system

PERCENT WHO AGREE WITH THE INDUSTRY SECTOR BEING MORE ACTIVELY

INVOLVED IN TOPIC OF DEBATE

REGULATION: CONSUMERS WANT INDUSTRY ACTIVE IN THE DEBATE

Q265-386. [TRACKING] [SPLIT SAMPLE] Please indicate how much you agree or disagree with the following statements? Informed Publics, 27-country global total.

More Trust Less Trust77% agree:

When policymakers are developing new

regulations, they should consult with

multiple stakeholders

Informed

Public

TRUST BUILDING BEHAVIORS

27

16 KEY ATTRIBUTES TO BUILDING TRUST

INTEGRITY

Has ethical business practices

Takes responsible actions to address an issue or crisis

Has transparent and open business practices

ENGAGEMENT

Listens to customer needs and feedback

Treats employees well

Places customers ahead of profits

Communicates frequently and honestly on the state of its business

PRODUCTS & SERVICES

Offers high-quality products or services

Is an innovator of new products, services or ideas

PURPOSE

Works to protect and improve the environment

Addresses society’s needs in its everyday business

Creates programs that positively impact the local community

Partners with NGOs, government and 3rd parties to address societal

needs

OPERATIONS

Has highly-regarded and widely-admired top leadership

Ranks on a global list of top companies

Delivers consistent financial returns to investors

Edelman Trust Barometer

research reveals 16 specific

attributes that build trust.

These can be grouped into five

performance clusters listed here

in rank order of importance.

Q80-Q95. [TRACKING] How important is each of the following actions to building your trust in a company? Use

a nine-point scale where one means that action is “not at all important to building your trust” and nine means it

is “extremely important to building your trust” in a company. (Top 2 Box, Very/Extremely Important) Informed

Public, 27-country global total.

pg 28

IMPORTANCE OF BEHAVIORS IN BUILDING TRUST VS. PERCENT WHO AGREE THE

FINANCIAL SERVICES INDUSTRY IS PERFORMING WELL AGAINST THESE BEHAVIORS

TRUST-BUILDING BEHAVIORS: FINANCIAL SERVICES FALLING SHORT ACROSS THE BOARD

Q335-343. How important is each of the following factors to building your TRUST in a company? Use a 9-point scale where one means that action is

“not at all important to building your trust” and nine means it is “extremely important to building your trust” in a company. (Top 4 Box, Trust) Informed

Publics, 27-country global total.

Q344-348. How well do you think the [INSERT SECTOR BEING RATED] industry is performing on the behaviors listed below. Use a 9-point scale

where one means they are “performing extremely poorly” and nine means they are “performing extremely well”. Informed Publics, 27-country global

total.

GapImportance of Behavior

vs. Industry Performance

-26

-24

-27

-26

-19

-27

-20

-21

-1852%

54%

56%

55%

63%

57%

56%

63%

61%

70%

75%

76%

82%

82%

83%

83%

87%

87%

Makes me feel connected to something bigger

Develops intellectual property

Supports local charities and good causes

Is transparent in reporting progress on company'ssocial responsibilities

Makes my life easier

Embraces sustainable business practices

Keeps me and my family safe

Protects customer data

Ensures quality control

Importance Performance

Informed

Public

pg 29

TOWARDS TRUSTED INNOVATIONA REQUIRED SET OF ACTIONS

BehaveSolve Engage

Fundamentally, business must conduct

itself with new rigor and self-awareness.

A commitment to robust relationships,

transparency and consistency in

reporting, active listening to

stakeholders’ concerns and a

willingness to modify products and

services is required. Ultimately this is an

action of leadership, culture and

conduct.

Business must continue to apply its

unparalleled perspective and skill to the

world’s greatest problems. Enterprise

must bring ideas and products to market

that yield benefit, while ensuring the

public sees the connection between

new developments and societal benefit.

Innovative product and service solutions

should be recognized by stakeholders

as more than profit-drivers.

Business must adopt a new framework

rooted in facilitating dialogue, sharing

information and fostering collaboration.

Realizing that new developments do not

speak for themselves, enterprises must

actively engage a broad range of

stakeholders to facilitate greater

understanding through stories that

reach and touch their audiences.

Business must explain benefits

completely, elucidate the technology

behind the innovations and

communicate its ethical practices in

bringing those discoveries to market. A

business that does this well is one that

invites partnership, encouraged

feedback and interaction and listens

openly.

30

ALIGNING THE FACTS TO ACTIONSWHAT MATTERS THE MOST

BehaveSolve Engage

Improve peoples’ livesCommunicating through a

purpose driven platform

Keep my family safe

Communicate with a

chorus of credible voices

amplified through search

Inspire confidence in

financial stability

Regulatory reform

advocacy

Engage with third parties

to advocate in the public’s

best interest

Data security &

privacy

Corporate social

responsibility 1

2

3

TRUST IN FINANCIAL SERVICES