Bankers communicating wrongdoing and failure: Apologies or apologetics?

Abstract

Abstract This paper analyses letters to shareholders by bank presidents in the ten years after the financial crisis to establish whether apologies for corporate wrongdoing and mismanagement are present, and if not, how these negative aspects are communicated. Apologies and quasi apologies are shown to be part of a wider repertoire of strategies including alignment with those affected, disassociation from negative events, scapegoating of perpetrators, and promises of future good conduct. These findings are discussed in terms of the banks’ ongoing relationship with shareholders, and their wider reputation management endeavours.