NEW YORK: Nasdaq has been handling its PR in-house without an agency of record since last October, when it dropped Ogilvy as its AOR after just 10 months.
The securities exchange said the move had nothing to do with Nasdaq CEO Robert Greifeld's streamlining efforts. He has cut all of its non-core businesses.
"It didn't have to do with budget, but I wouldn't disclose beyond that," said Bethany Sherman, Nasdaq's SVP for corporate communications. "I do not disclose reasons for parting relationships."
Ogilvy also wouldn't comment. Ogilvy beat out Fleishman-Hillard and RF Binder Partners in January 2003 to become Nasdaq's agency of record. Nasdaq dropped the Torrenzano Group as its AOR in July 2002 after four years.
Nasdaq will continue to handle PR in-house, Sherman said. She added that the exchange occasionally uses outside PR counsel for strategy on projects, but she declined to name them.