Ludgate Communications is rumoured to be attempting to bolster its
financial PR operation with a potential merger with the Maitland
Consultancy. Robin Hepburn, chief executive of Ludgate confirmed to PR
Week on 12 November that he was already in talks with one agency, which
is now believed to be Maitland.
There is much industry speculation that Maitland chairman, Angus
Maitland, the agency’s majority shareholder, is looking to sell-up the
agency. Angus Maitland refused to comment on any potential deal.
Ludgate has undergone senior staffing changes recently following the
departure of deputy chairman David Simpson and financial division
directors Mike Tate and Terry Garrett earlier this month. (PR Week 12
Talks believed to be currently taking place between Ludgate and
Maitland, are understood to be part of a ploy by Ludgate’s parent,
Interpublic, to significantly expand its financial PR offering in
Prior to approaching Maitland, Interpublic is understood to have
contacted Finsbury but was rebuffed.
Eugene Beard, vice-president of Interpublic, said he had no comment to
make on the rumours.
Ludgate merged its corporate, European and City divisions into one
financial PR unit earlier in the year (PR Week 4 June) in a bid to
refocus its financial offering.
Any purchase by Interpublic may also raise questions over the future of
the financial arm of Interpublic agency Shandwick.
Two financial directors at Shandwick, Andrew Best and Matthew Hooper,
recently left to set-up new investor relations and PR firm Shared
(PR Week 19 November).
Maitland is currently working on behalf of German telecoms operator
Mannesmann as it fights a pounds 64 billion hostile takeover bid from