Chase raises eyebrows with Ketchum hire

NEW YORK: Chase Manhattan Corporation raised eyebrows in the world of financial PR last week by naming Ketchum as its corporate PR agency of record.

NEW YORK: Chase Manhattan Corporation raised eyebrows in the world of financial PR last week by naming Ketchum as its corporate PR agency of record.

NEW YORK: Chase Manhattan Corporation raised eyebrows in the world

of financial PR last week by naming Ketchum as its corporate PR agency

of record.



While critics said the choice of Ketchum was an odd one - the firm isn’t

especially renowned in banking circles - Chase officials were drawn to

Ketchum’s so-called ’new economy’ expertise.



’What we liked was Ketchum’s experience in corporate re-positioning,’

said Chase’s SVP of PR James Finn. ’They also have a lot of clients in

the area we like to call ’convergence’ - where the old economy meets the

new economy.’



The win is an important one for Ketchum, as successful work on behalf of

Chase will likely prove the agency’s mettle to other financial

institutions.



While Chase based its selection on a few high-level discussions with up

to eight other agencies, Ketchum had a leg up on the competition from

the outset.



’We were not unknown to each other,’ Finn said. ’We worked with them in

San Francisco on the announcement of Chase H&Q (Chase’s acquisition of

investment bank Hambrecht & Quist), which worked out nicely.’



While Finn would not put a dollar figure on the account, he said it

would be ’substantial’ and that the figure will not be hampered by any

pre-existing PR budget at Chase. ’We’re defining the scope of work and

conducting a perception review, and plan to work backwards from there,’

said Finn.



Chase boasts a 22-strong in-house PR staff.



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