NEW YORK: Last week, Brunswick Group announced three new US hires, as well as an account director transfer to the New York office from Johannesburg, South Africa. The moves by the financial communications firm come even as traditional investment banking work stemming from IPOs and mergers and acquisitions - the sweet spot for firms in recent years - has come to a crawl due to the bear market.
The firm's leadership echoed a theme that has become the new mantra among many financial communications advisors in recent months.
"While we have seen a drop in transactions-related work (IPOs and M&As), said Mike Buckley, partner at the firm, "we are seeing more demand within the areas of crisis and bankruptcy."
The most senior appointment made by the firm is Piedad Fernandez, to the position of associate partner in New York. Fernandez most recently worked in institutional research sales for Wall Street giants Bear Stearns and HSBC Securities.
The other appointments include account director Nicola Atherstone, who transferred to New York from Brunswick's Johannesburg office; Cristina Ruuck, joining Brunswick's Washington, DC litigation practice as an executive, having previously worked in press relations for Senator Barbara Boxer (D-CA); and Annie Schultz, also joining as an executive, having recently graduated from Boston College.