Ludgate loses City staff but aims to buy agency

Ludgate is to lose its deputy chairman David Simpson and two key staff from its City PR division, but has announced that it is in negotiations to buy a financial PR agency.

Ludgate is to lose its deputy chairman David Simpson and two key

staff from its City PR division, but has announced that it is in

negotiations to buy a financial PR agency.



Ludgate, which was bought by marketing services giant Interpublic in

1997 to form part of its Weber PR Worldwide brand, has been talking to

both public affairs and financial PR agencies over the past few

months.



Chief executive Robin Hepburn said: ’Acquisition is very much on the

agenda. We have identified a number of parties and are particularly

talking to one.’ The agency is understood to be a UK financial

boutique.



Meanwhile, Ludgate, which also offers corporate and financial services

PR, is negotiating with David Simpson and financial division directors

Mike Tate and Terry Garrett about their departure. Hepburn said they

were not being made redundant.



Simpson refused to comment on the circumstances of his departure. ’We

are working full time to ensure our clients receive their contracted

service,’ he said.



Simpson joined Ludgate in 1995 as chief executive after seven years as

managing director of Dewe Rogerson’s financial PR arm. Tate and Garrett

work as part of the 45-strong City PR team, under financial PR MD Reg

Hoare.



Last Christmas, Ludgate closed part of its corporate PR division, with

ten job losses.



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