Financial Objects joins Sibos PR binge

Shares in core banking vendor Financial Objects slipped four per cent after the company reported a 21% decline in revenues from its banking division.

The group has appointed a new head of banking in an effort to revive sales, but warns that it now expects to record a full year decline in revenues in the division.

Financial Objects is resisting calls to reveal the identity of the new man at the helm. Instead the firm is saving the announcement for the Swift international banking conference in October, when the new recruit will be hawked around for briefings with the press.

Has Financial Objects got its priorities right here? With its share price heading south, surely the firm's primary objective should be to reassure investors that the core banking division is in capable hands.

The UK-based vendor is not alone in reserving some choice snippets of news for Sibos. Finextra runs an online news service at the week-long event, SibosOnline, which covers breaking news from the exhibition floor. During a typical week, the SibosOnline team will broadcast over 200 individual news items from the 200+ exhibitors showcasing products at the event.

Some - irritatingly - drip-feed their announcements, with a new release each day. Others indulge in the PR equivalent of binge-drinking, inundating overworked hacks with a towering mountain of white papers and press releases mostly detailing half-baked product upgrades and partnership agreements. The most desperate save an entire year's worth of news and exhaust their annual marketing budget in an effort to make a big splash at the show.

Sadly, these various strategies are generally doomed to failure, as much of what gets said is lost in the general background noise. Take my advice: If you really want to generate some worthwhile column inches, hold over the odd press release until the week after Sibos. You might find a more receptive audience.