Piraeus Bank has hired Financial Dynamics to handle its UK and
European financial PR as it battles to take over rival Greek bank
Piraeus is Greece’s fourth largest bank, while Ergobank is the country’s
fifth largest. The merged group would represent the third largest bank
by market capitalisation.
Piraeus is facing competition from Geneva-based EFG Eurobank in what has
become an increasingly bitter fight between the two. The firm stepped in
as Ergobank’s white knight earlier this month, and is its preferred
Financial Dynamics was hired following a recommendation from the bank’s
financial adviser, Goldman Sachs. The brief covers media, analyst and
investor relations in the UK and Europe. FD southern Europe head Joanna
Moss is working on the account.
Piraeus increased its initial offer for Ergobank this week, valuing the
bank at over pounds 1 million. EFG Eurobank was expected to counter with
its own second bid as PR Week went to press.
- Allied Domecq called in Cardew and Co three weeks ago to reinforce its
financial PR team as the battle between Punch Taverns and Whitbread for
Allied’s retail division becomes increasingly fraught. Cardew and Co is
working with Allied Domecq’s existing agency, Financial Dynamics.