Arnold PR made a Magnet subsidiary

BOSTON: In the latest tweaking of Havas' organizational structure, Arnold Worldwide Partners has consolidated its PR services. On the revised flowchart, the line linking Arnold Public Relations to Havas management will now run through New York-based Magnet Communications and its CEO, David Kratz.

BOSTON: In the latest tweaking of Havas' organizational structure, Arnold Worldwide Partners has consolidated its PR services. On the revised flowchart, the line linking Arnold Public Relations to Havas management will now run through New York-based Magnet Communications and its CEO, David Kratz.

Magnet has operated under the Arnold Worldwide Partners umbrella since shortly after the shuttering of the Diversified Agencies Group last fall.

"As soon as we came in, we were kindred spirits. We've worked very well together, and have similar approaches in terms of marketing,

said Kratz.

"The reason this happened is that it makes more sense for us to manage Arnold Public Relations than it did for them as an advertising agency."

After a transition period, Arnold Public Relations president D.A. Hayden will step down. Her agency will continue to operate under its current name, but its fees - estimated at approximately $3 million per year - will be incorporated into Magnet's bottom line.

The move will also expand Magnet's geographic reach (Arnold is headquartered in Boston, and has satellite offices in Baltimore, Richmond, VA, Washington, DC, and London), as well as its menu of services.

Magnet is known for its work in consumer marketing, b-to-b, and design; its new subsidiary specializes in financial communications and investor relations.

"This shows the network's continued commitment to our evolution and growth,

said Kratz. He added that the next step in that process might be the opening of overseas offices.

"I just came from a meeting with Arnold Worldwide Partners,

he said.

"They are very desirous of us having offices in European cities. Because they have advertising presences there, it could be that much easier to do."

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in