NEW YORK: APCO Worldwide and AMO, the global network of financial communications firms that includes Abernathy MacGregor, have formed a partnership that will bring their combined public affairs and financial communications expertise to clients worldwide.
The union means that APCO clients who need financial expertise will work exclusively with AMO agencies, and vice versa. Corporate restructurings, bankruptcies, and multinational M&A deals, which have come under increasing regulatory scrutiny, will be key areas of business.
"As cross-border transactions really become a daily occurrence and governments are playing more of an interventionist role, there are considerations beyond financial [ones]," said APCO CEO Margery Kraus, speaking to the need for a public affairs approach to help broker these deals. "It just made sense to put these kinds of services together."
AMO chairman and Abernathy CEO James Abernathy said the alliance grew out of a decade-long desire to work with Kraus.
"The connective tissue [of the clients]," he said, "is the global capital markets."
The two agencies have already collaborated on some clients, including representing CVS in its recent merger with Caremark, Abernathy said, although the formal launch of the alliance is the end of November.
Neither Kraus nor Abernathy could estimate what the volume of business would be, although Kraus said that client reaction has indicated the demand is "very robust."
Abernathy is owned by Havas. APCO is independent, following a 2004 management buyout.