Google To Host Financial Services Summit Nov. 19 - InformationWeek

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11/7/2008
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Google To Host Financial Services Summit Nov. 19

U.S. Sen. Christopher Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, is slated to deliver the keynote speech.

Not content to save the world's information from disorganization, Google wants to help save the world's economy and perhaps help the company's ad business in the process.

Google is hosting a summit for 200 financial executives Nov. 19 at its New York office. U.S. Sen. Christopher Dodd, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, is slated to deliver the keynote speech.

"To help companies navigate through this turbulent environment and optimize their current marketing activity, Google will be hosting its first annual Financial Services Summit," the invitation, posted on Wikileaks, reads.

The event invitation, titled "rebalance," explains that attendees will hear how their peers are "navigating through these transformations, and discover ways to utilize emerging media to efficiently engage users in new and innovative ways."

The financial bubble that recently popped was kind to Google, with mortgage companies paying well to run ads against inflated search keywords like "mortgage" and "refinance."

As Google explains on its U.K. Web site, the company helped subprime lenders prosper. "A clear example of the success that a well-managed AdWords campaign can bring is evident in the case of the agency's relationship with the Mortgage Depot, an Irish mortgage company focused on the subprime mortgage-lending market," Google explains. "Based on an in-depth examination of both the client's industry and AdWords, Worldsites was able to help the Mortgage Depot become one of the largest subprime mortgage lenders in Ireland."

With diminished advertising from lenders following recent economic turmoil, Google has an incentive to pitch financial companies on the value and cost-effectiveness of its services as marketing budgets contract.

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