Abernathy lures Burson's Frankel

NEW YORK: Abernathy MacGregor Group is set to strengthen its mergers and acquisition capability after poaching Steve Frankel, a managing director of mergers and acquisitions at Burson-Marsteller, to spearhead the drive.

NEW YORK: Abernathy MacGregor Group is set to strengthen its mergers and acquisition capability after poaching Steve Frankel, a managing director of mergers and acquisitions at Burson-Marsteller, to spearhead the drive.

NEW YORK: Abernathy MacGregor Group is set to strengthen its mergers and acquisition capability after poaching Steve Frankel, a managing director of mergers and acquisitions at Burson-Marsteller, to spearhead the drive.

Frankel joins the firm as a managing director and has a mandate to build a team specifically dedicated to M&A. However, the firm, now owned by advertising conglomerate Havas, will still have M&A specialists across all practice areas.

Frankel, previously managing director of Burson's corporate/financial practice, said that his departure was not connected to last year's swinging job cuts at Burson, in which five percent of its workforce was axed (PRWeek, December 4), explaining: 'Abernathy is more specialized in financial communications.'

Frankel's responsibilities at Burson will be taken over by managing director Robert Grives. The agency is still hunting for a new head of its corporate practice after the departure of John Castellani in November.

Before joining Burson, Frankel was a senior vice president at GCI Group and Hill & Knowlton. He was also a speechwriter to Georgia Governor Joe Harris.

Abernathy is currently providing investor relations counsel to American Airlines (alongside BSMG) and Donna Karan International.

American Airlines is acquiring the assets of TWA while Donna Karan International is looking at a proposal to become part of French luxury goods firm LVMH.



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