NEW YORK: Financial Dynamics (FD) has entered into a joint venture with Chinese consultancy Eastwei Relations, in its first official agreement in the Asia-Pacific marketplace after opening its Hong Kong office in September 2005.
The deal gives FD access to Eastwei's 60-person team in China. Eastwei holds offices in Beijing, Shanghai and Guangzhou. Declan Kelly, FD's US CEO, said that Eastwei's reach, through partnerships, extends into about 20 Chinese cities.
Founded in 1994 by CEO Johan Bjorksten, Eastwei represents Nvidia, IKEA, Porsche, Sony and others.
Kelly said FD, which has had an informal arrangement with Eastwei for about a year, started thinking of making it formal last fall.
"The reaction from clients to this announcement has been considerable," Kelly said. "Many of our clients are already doing business in China or seeking to do so there."
Diana Footitt, CEO of FD's Asia operations, will oversee the partnership, and Kelly said that FD would be looking to place some of its people in Eastwei offices. FD's Asia staff is approaching 6 people.
Kelly said having a partnership with an existing agency in China makes it easier for FD to help clients navigate in a complex culture.
"By having a direct on-the-ground offer, we're in a position to do something for clients that we couldn't do before," Kelly said.