Sermon acquires Waughton stake

Former Shandwick International CEO Richard Sermon has bought a stake in financial and corporate comms shop Waughton.

Sermon, who co-founded Shandwick Consultants with Lord Chadlington before its flotation in 1985, has become non-executive chairman of the agency.

Waughton founder Robin Hepburn said he retained a majority stake in the firm and that Sermon's share, over ten per cent of Waughton's equity, was 'significant'.

Sermon, who left Shandwick in 1996 to form Gryphon Corporate Counsel, has worked as PR adviser to Goldman Sachs and until April was a non-executive director of insurance broker Jardine Lloyd Thompson.

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