NEW YORK: HL Group is absorbing the New York operations of Freud Communications, the companies reported today. Hamilton South and Lynn Tesoro, HL Group founding partners, will manage the operations of the merged New York agency. Freud's UK offices will remain an independent business.
Freud's New York CEO Lisa Dallos will become an HL Group VP, reporting to South. Dallos said that "all clients are coming with us and most staff."
Neither Dallos nor South would discuss the agreement's finances. South noted that Freud was an "enormously talented" firm and "will be a valuable addition to our group in the US."
Freud's Los Angeles office will remain a separate office, according to a joint statement.