CrestCo, the company behind the electronic settlement system,
Crest, which is used by the London Stock Exchange, has appointed
Citigate Communications to handle its PR.
The appointment coincides with talks on the potential consolidation of
European stock exchanges, which will require new systems and provide
opportunities for companies like CrestCo.
Citigate will handle corporate and financial PR in the UK and Germany,
while CrestCo monitors talks between the London Stock Exchange and
Frankfurt’s Deutsche Borse over a possible link-up.
Citigate, which pitched against four other agencies for the business,
will report to Paul Symons, head of public affairs at CrestCo. Its team
will be led by director Patrick Donovan.
CrestCo is owned by 69 shareholders, including the London Stock
Exchange.
It was formed in 1996 and doubled its pre-tax profits to pounds 11.4
million on turnover of pounds 27.3 million during the first six months
of this year.
Despite initial teething problems, the Crest system now handles 160,000
transactions a day with a cash value of pounds 30 billion.
