NEW YORK: The Global Consulting Group (GCG) acquired IR firm The Anne McBride Company (AMC) this week in a move that strengthens the IR component of the expanding agency.
All 11 current AMC employees will join GCG. Anne McBride herself will join the firm as a vice chairman and senior MD.
Richard Wolff, GCG's CEO, said the acquisition is a necessary step in this time of increasing industry consolidation. "One of our strategic goals in 2005 was to grow out and strengthen our [IR] group in the US," he said. "Anne's group has always been high on our radar screen as one of our top competitors."
McBride called the decision to sell her firm, which she founded in 1992, "a very tough and even emotional issue." But she said that after connecting with Wolff through a mutual friend, the benefits of GCG's international office base to her clients were clear.
"The world is global," McBride said, and added "I need to be prepared for succession."
AMC's New York office will close, and approximately 40 of its clients will move to GCG, bringing the agency's IR client list to 160.