New Cordiant unit targets investors

NEW YORK: Cordiant Communications has established a new standalone unit to house its growing roster of investor relations businesses.

NEW YORK: Cordiant Communications has established a new standalone unit to house its growing roster of investor relations businesses.

NEW YORK: Cordiant Communications has established a new standalone unit to house its growing roster of investor relations businesses.

Cordiant is expected to add Abernathy MacGregor to the new division, named Business Communications International (BCI), as soon as a deal is complete. The two parties have been negotiating an acquisition for weeks and are reportedly nearing a conclusion (PRWeek, October 23).

Cordiant's other IR firms include UK-based Financial Dynamics and the US firm, Morgen Walke Associates.

Financial Dynamics CEO Nick Miles is to become CEO of the new division, while David Walke, co-founder of Morgen Walke, will join the board.

It is still unclear what roles have been earmarked for James Abernathy and James MacGregor.

Miles said last week the new entity will be spearheading an intense global acquisitions trail in the US, Asia and Europe.

Separately, Morgen Walke has completed the acquisition of the New York office of the Terpin Group for an estimated dollars 1 million.

It is transforming the office into a new Internet-focused brand named Morgen Walke Greenhouse.



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