NEW YORK: France's Publicis Groupe has dipped its toe in IR waters,
acquiring two New York firms, Fabianne Gershon Associates and The Hudson
The two will be folded into US agency Publicis Dialog, which is to
launch a new corporate and IR practice on the back of its new
Fabianne Gershon and Hudson Stone already have a joint-venture
relationship, but retain separate accounting streams. Together the two
firms pulled in revenues of around dollars 1 million last year. Publicis
did not disclose how much it paid for the two agencies.
The move will bolster Publicis' efforts to attract clients to Publicis
Dialog. Andy Hopson, president and COO of Publicis Dialog, said:
"Publicis Dialog has lacked a strong IR capability and that has impeded
our ability to grow. We were painfully aware that more than 100 of our
clients are publicly traded and there were lots of missed
Fabianne Gershon is a former head of corporate communications for Morgan
Stanley, while Hudson Stone colleague Gary Fishman has managed IPOs for
Prodigy Communications and World Wrestling Federation Entertainment.
Gershon becomes executive principal and executive director of corporate
and IR, while Fishman becomes executive principal and group managing
director, a title he will shared with Mark Perlgut, currently an
executive principal at Publicis Dialog.
The newly acquired firms will be moving into new office space in August.