New Instinet post diverts spend to public relations

One of the world’s largest electronic brokers, Instinet, has appointed a director of communications for Europe to lead intended PR restructuring.

One of the world’s largest electronic brokers, Instinet, has

appointed a director of communications for Europe to lead intended PR

restructuring.



Ex-MCA corporate communications VP Jeff Manton takes over from Lorrie

Harte Benwell with plans to slash advertising spend and divert resources

into PR.



According to Manton he is looking to boost Instinet’s PR budget up to

six figures and expand the four-strong in-house PR team to seven.



’It seemed to me when I came in that we needed to get much more targeted

because we are dealing with a very small audience and PR can be much

more effective at ’narrowcasting’ and explaining complex ideas than

advertising,’ said Manton.



The PR review will involve new appointments, firstly of a media

relations manager with a pan-European remit, followed by extra PR staff

in the conference and events and marketing communications divisions.



Manton said Instinet will continue to retain incumbent financial PR

agency Grandfield, but will be looking to appoint European agencies in

France, Germany and Switzerland.



Instinet, which was one of the first pioneers of electronic broking 30

years ago, now trades on over 40 global markets, is a member of 20

exchanges and has 25,000 institutional customers.



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