Brands are vital to businesses in many sectors but, while CMOs build brands, few run businesses. The CEO role tends to be filled by hard-headed number crunchers, accountants who can read a balance sheet and appreciate brands as long as they come with an intangible asset figure attached.
So, it was noteworthy when, at the beginning of October 2020, Chris Pitt moved from head of marketing at HSBC UK to become CEO at First Direct, HSBC’s telephone and internet-based retail bank division.
When he appeared at EffWorks, the IPA’s marketing effectiveness conference (October 2020), he’d only been in the job...