Most investment banks tend to use social media only for public relations, marketing, and recruiting. The big ones, such as JPMorgan Chase, Bank of America, and Goldman Sachs forbid their employees from even using SM on their work computers. UnderstandableThere is too much that can go wrong.
Additionally, the Securities and Exchange Commission requires these institutions to archive all employee communications. That is challenging enough. Once you throw in Twitter and Facebook, look out!
That is why Deutsche Bank stands out recently for taking a bold stance. Two months ago, under the companys direction, Ted Tobiason (Deutsche Banks head of equity capital markets for the technology industry) sent his first tweet. In Tobiasons words, Tweeting is a way to show that we are part of the game and that we understand the changes in technology and we are using them (Saitto, Serena. The Lone Tweeter of Deutsche Bank. Bloomberg Businessweek. 3/5/123/11/12, p. 55).
In spite of the spontaneous nature of Twitter, Tobiason is not free to just shoot from the hip. His tweets must all be cleared through the banks communications office, and he is limited in what he can share for obvious reason.
Nevertheless, I see this action as a positive move by Deutsche Bank. Organizations that want to remain current must enter into the same communication avenues most of their customers have too.
If youre interested, you can follow Ted on Twitter: @TedTobiasonDB.
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