Ruder Finn: Agency Business Report 2008

Although RF reported a drop in both US and global revenues, it had a solid fall and winter, doubling the number of million-dollar accounts held after realigning various areas, says co-CEO Peter Finn.

Outlook
Although RF reported a drop in both US and global revenues, it had a solid fall and winter, doubling the number of million-dollar accounts held after realigning various areas, says co-CEO Peter Finn.

"There are certain market segments that we were involved in that were going through some turmoil," he says.

Staff
Ruder Finn claimed a headcount of 585, which is 77 less than 2006. The percentage of turnover was listed at less than 10%. Sixteen senior staffers departed the firm in 2007, but the agency hired 16 new senior-level employees and promoted a number of senior staffers from within.

Regional performance
Regional business in San Francisco; Los Angeles; Chicago; Washington, DC; and Asia is growing. No markets are shrinking, says the firm. Ruder Finn closed its Sydney office in 2007.

Practice areas
RF features 16 practice areas, with healthcare, corporate, interactive, and tech comprising its core strategy. No practice areas were phased out during 2007, while interactive, consumer marketing, and environmental showed the greatest growth.

Accounts
Wins included Aterian, Blackberry, BP Alternative Energy, Dubai International Finance Center, GlaxoSmithKline, the New York City Opera, Baxter, Homewood Suites, HSBC, IEEE, J&J, Kellogg's, MontBlanc, the Museum of Islamic Art, Qatar, Pfizer, Reuters, StubHub, TiVo, Visa, and Wyeth. Ruder Finn did not disclose any account losses for the year.

"The work we're doing is at the higher end," says co-CEO Bloomgarden. "[We are working on] more consumer luxury goods, including consumer electronics and large entertainment."

Financial performance
Global revenue hit $93.5 million, a 5.79% drop from 2006, and more than $76.4 mil- lion in US revenue, an 8.06% drop from the year before.

Key facts
Principals:
David Finn, chairman; Peter Finn (pictured) and Kathy Bloomgarden, co-CEOs
Ownership: Independent
Offices: 13, including five in the US; other wholly owned offices in Europe, the Mideast, and Asia-Pacific

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