The firm reported similar growth in 2008, with both staff and new business, as compared to recent years, says Margery Kraus, president and CEO. She adds that APCO's success in 2008 was "tempered a bit by the last quarter," but the agency still produced "substantial year-on-year growth."
APCO made a number of senior hires and promotions at offices worldwide as it continued work with current clients and added new accounts, despite "some retrenchment," notes Kraus.
This year, the firm expects similar numbers as the relationship between business and government is redefined, not just in Washington, she explains, but around the world.
"I think that's another place where we'll be doing well," says Kraus.
She sees opportunity for APCO in 2009 to provide communications work as companies and organizations are restructured and industries are reregulated.
The firm reported a headcount of 569 employees in 2008, down 1% from 2007. There was a turnover of 23.8%.
Senior hires in DC and New York include Paul Clayman, SVP; Anne Kolton, VP; Neeraj Mistry, SVP; Geeta Nayyar, VP; Liza Olsen, VP; Alicia Peterson Clark, VP and senior advisor; and Jonathan Winer, VP.
Jane Garvey, EVP; Steven Harris, SVP; James Jones, SVP; and Adam Segall, SVP; left APCO in 2008.
US promotions include Nelson Fernandez to MD of the New York office; Courtney Piron to SVP; and Ariuna Namsrai to SVP.
No mergers or acquisitions reported.
No offices were opened or closed. APCO continues to see growth in EMEA and Asia.
APCO organizes around service offerings which include business and finance; media, public opinion, and society; and government and public policy. Individual offerings from each area are tailored for clients.
Health, market entry and corporate advisory, and online offerings continue to grow.
Business wins included the American Academy of Otolaryngology, Dow Corning, ENI, Group Hygiene, Pacmed, Unicredit, the United Nations Development Programme, and Smarterville. Nearly all of the new accounts have a global component.
In 2008, 45% of APCO's clients were on a retainer, a 7% increase over 2007.
The firm reported $112.4 million in global revenue for 2008, a 15.3% increase over 2007, and $62 million in US revenue, an 8% increase compared to 2007.
Principals: Margery Kraus, president and CEO; Neal Cohen, Americas CEO
Offices: 29 globally wholly owned, five in the US