FRANKFURT: The Cordiant Group - parent company of UK firm Financial
Dynamics - is closing the Frankfurt-based division of IR specialist
Morgen Walke, rolling the brand into its remaining financial PR
capabilities in Germany.
The move, carried out due to poor market conditions, will see the German
Morgen Walke team, headed by Lutz Golsch, join Ahrens & Behrent,
Financial Dynamics (A&B-FD), which was set up as a 50-50 joint venture
between A&B and FD in February this year (PRWeek, 16 February).
A&B-FD will continue to handle a number of Morgen Walke clients, such as
Knorr Capital Partner and Condant.
Golsch becomes acting MD with A&B-FD, working alongside existing
managing directors Michael Reinert, a partner with A&B, and Charles
Watson, FD chief executive.
Morgen Walke's holding group BCI, which is headquartered in London,
confirmed it will now concentrate on the Morgen Walke brand in the US.
