NEW YORK: Financial PR giant Ted Pincus has joined StevensGouldPartners as a partner.
StevensGouldPartners was formed last November to serve PR, advertising, and direct marketing clients undertaking merger and acquisition activity.
Pincus' previous firm, The Financial Relations Board, was sold for $40 million to True North Communications in 2000. Following the sale of the firm, he served as vice chairman of BSMG and more recently as senior consultant to True North's new parent, Interpublic, and its Weber Shandwick Group.
Pincus said his decision to return was based on negative developments in the PR agency field, such as budget cuts and companies moving PR in-house. Pincus said there was an explosion of PR firms in the 90s that were only reaching adolescence when the recession hit.
?Now that they?re trying to come out of it, they could be better served by pooling resources,? Pincus said.
"He's so entrenched in the financial markets and has a huge number of contacts," partner Rick Gould said of Pincus. "We believe he's going to help us build out our firm."
Pincus will continue to work as a business columnist for the Chicago Sun Times, as a finance professor at the DePaul University MBA program, and as a Fortune 500 company management advisor.
Gould said these commitments should be minimal and that Pincus plans on contributing heavily to the firm. Pincus said he would devote as much time as needed.
Regarding his heavy workload, Pincus said, ?I can?t sit still.?
Pincus, who is based in Chicago and New York, joins managing partners Gould and Art Stevens and five senior associates based in Los Angeles, Washington, DC, and New York.