NEW YORK: The Financial Relations Board has signed 31 new investor relations clients over the past two months, placing the firm on target to reach dollars 36 million in revenues this year.
NEW YORK: The Financial Relations Board has signed 31 new investor
relations clients over the past two months, placing the firm on target
to reach dollars 36 million in revenues this year.
The new accounts range in size from dollars 80,000 to dollars 300,000 in
annual billings.
’We won 90% of it through referrals and recommendations we received
through the investment banking community,’ said Ted Pincus, FRB vice
chairman/CEO and member of parent company BSMG’s board of directors.
He also estimated that approximately 20% of the new business stemmed
from the company’s affiliation with BSMG. The dollars 33 million
purchase of FRB was finalized in January (PRWeek, Jan. 18).
Pincus said the FRB/BSMG honeymoon is far from over. In many cases,
teams from the two agencies have been collaborating on presentations for
potential clients. FRB, for example, recently won the IR work for Fort
Worth-based Crescent Real Estate Equities, while BSMG won the company’s
PR and advertising business.
Among the other new IR wins are Ingersoll-Rand, a construction machinery
equipment maker; Inacom, an info-tech services company; the Illinois
Development Finance Authority, a tax-exempt bond issuer; Transmedia
Network, which issues discount charge cards; and Nextcard, a major
credit card issuer on the Internet.
The board also won its first Mexican account, Transportion Maritimas
Mexicana, a Mexico City-based transportation company.
More new business is likely to follow. Within the next week or two,
Pincus expects to finalize what he described as ’a major win’ of a state
IR program designed to raise funds and attract new investment. Pincus
could not disclose which state the agency has been pitching.
