National Grid, the electricity transmission company floated last month,
has recruited its first investor relations manager and appointed City PR
agency Financial Dynamics.
FD came out ahead of Dewe Rogerson, Citigate and Cardew in a competitive
pitch to pick up what is described as a ‘substantial’ account by
National Grid director of corporate affairs Peter Gavan.
The agency is fielding a heavyweight team to handle the account,
including its chief executive Nick Miles and former Sunday Times City
editor Jeff Randall.
FD will work closely with Gavan and new IR manager Jill Sherratt. She
joins from Charter where she handled investor relations in her capacity
as public affairs manager. At National Grid she will head an in-house
team of two. The company is also expected to appoint an in-house PR
Commenting on FD’s role, Gavan said: ‘They’ll be working with us in two
main areas - our relationship with the financial media and secondly, our
relationship with analysts in particular and with the City in general.’
Fees have yet to be agreed but given the high-powered team that FD has
allocated to the business and the scale of the communications task in
hand, these are thought likely to exceed pounds 100,000.
‘Some of the shareholders in the Grid were given their shares by the
regional electricity companies and there’s at least a suspicion that
some of them could know more about the Grid,’ said Miles.
The appointment is a considerable boost for Financial Dynamics and
suggests that the agency’s reputation has not been badly dented by
recent press reports linking it to a Stock Exchange inquiry concerning
its client MB Caradon.