The financial PR sector distanced itself further from the PRCA last week when three more City agencies quit the association.
Cardew & Co, Binns & Co and Citigate Dewe Rogerson have all left the body. Binns and Citigate have been ejected following their refusal to submit to the PRCA's consultancy management standard - a condition of membership since the start of January - while Cardew indicated its intention to leave three months ago.
This leaves just Grandfield and Gavin Anderson as the big name financial agencies on the PRCA's 150-membership list. Brunswick, Financial Dynamics and Finsbury have never joined, while College Hill and Bell Pottinger Financial left some time ago.
One financial agency director said his firm was leaving the PRCA 'because it doesn't serve our needs. It costs us several thousand pounds a year and we feel we gain very little in return'.
PRCA executive director Chris McDowall agreed and said: 'I am at a loss as to what to do. I welcome suggestions as to how we can make membership attractive to financial PR firms.'