The parent company of top-three financial PR agency Financial
Dynamics has been acquired by global marketing communications giant
Cordiant Communications Group. Lighthouse Global Network, which last
year bought FD, was acquired by CCG for pounds 392 million.
The merger makes CCG the tenth-largest marketing services organisation
with combined revenues of pounds 560 million. FD chief executive Nick
Miles said the acquisition would give the agency the financial backing
needed to grow. ’They can give incentives to our hard working people
here and whereas before we’ve had shares in an unquoted company, it now
gives them tangible values,’ said Miles. ’It will enable us to go out
and recruit, offering attractive share options as incentives.’
Financial Dynamics was acquired by US investment company Lighthouse last
August, just a year-and-a-half after it was taken over by advertising
The agency now employs 130 people and has increased its staff numbers by
50 per cent in the last year alone.
CCG includes advertising and integrated communications network Bates
Worldwide; multinational advertising business Scholz and Friends; event
conference and exhibition management firm HP:ICM, and a 50 per cent
shareholding in Zenith Media Worldwide. Financial Dynamics and fellow
Lighthouse-owned New York-based financial PR consultancy Morgen-Walke
Associates are the only PR agencies currently owned by Cordiant.