City & Corporate: The Week in City & Corporate

Penrose Financial brought in by International Assets Management

International Assets Management (IAM) has brought in Penrose Financial to 'develop a PR strategy and build the profile' of IAM as an independent specialist investment company. IAM is one of the oldest independent funds of hedge funds managers in Europe.

Penrose, run by MD Gay Collins, first worked with the IAM team on its MBO earlier this month. IAM CEO Morten Spenner and head of comms Rebecca Donaldson wanted support as IAM regained independence two years after its acquisition by ABN Amro Asset Management.

The backers of the MBO were IAM's management, together with Sir Ronald Cohen and US-based investment bank Jefferies Group.

F&C Asset Management is using Tulchan as it looks to combine its property business in the UK and Ireland with specialist investment group REIT to create an £8.5bn property company. The deal will see the creation of F&C REIT, in which F&C will have a 70 per cent stake with the remainder owned by REIT.

Lawton Communications has recruited Sarah Miles as a director from Berkeley Public Relations in Reading. Miles has worked on clients including Toshiba, Freeserve and the Financial Times website.

Aflame.info, a training firm, carried out a survey showing that 80 per cent of businesses have seen no signs of downturn yet, and that the PR industry appears to have become more competitive in recent months. Seventy per cent of those surveyed said client confidence was either staying the same or growing. And, in good news for finances, more than half had experienced no budget cuts whatsoever.

Weber Shandwick Financial has signed up Vicki Morley as an asssociate director in London. Morley joins after spending more than eight years living and working in Dubai, most recently as an account director at sister IPG company GolinHarris.

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