NEW YORK: Financial Dynamics closed out a successful 2004 by launching a new property practice aimed at real estate clients.
Declan Kelly, FD's CEO, said that his firm had seen real estate as a growth area over the past year, and expects that trend to continue. Last August, FD handled communications for General Growth's $12.6 billion acquisition of The Rouse Co., which the agency calls "the largest commercial property deal in U.S. history."
Kelly added that FD's European offices already have a property practice, and adding one in the US will allow the agency to serve clients internationally.
Evan Smith, who previously worked for KCSA Worldwide and Weber Shandwick, will head the new practice. Kelly said that staff will be added over the coming months as needed.
"We may end up cross-referencing different people in different teams for a while," Kelly said. "We're not gonna change people who are working on a client right now just to accommodate the building of a practice within our business."
The new practice caps off a second successful year for FD. According to Kelly, the firm enjoyed "in excess of 75% growth" in revenue in 2004.
More expansion plans are also in the works. Kelly said that FD wants to add a professional services practice in 2005, and is currently searching for someone to head that division.
"We've expanded at a pretty enormous rate," Kelly said. "I expect to see 2005 bring further growth within our business."
FD is exploring several acquisition possibilities, but Kelly noted that "one never knows whether one can complete them or not."