TowerGroup hires Edelman

NEEDHAM, MA: Financial research and advisory firm TowerGroup has named Edelman its global AOR. The firm will focus on media outreach, analyst media training, and conferences and events.

NEEDHAM, MA: Financial research and advisory firm TowerGroup has named Edelman its global AOR. The firm will focus on media outreach, analyst media training, and conferences and events.

The agency, which began work on the year-long account on January 15, is concentrating its media outreach strategy on outlets that feature top-tier financial coverage, banking and financial trade titles, and broadcast outlets, said Karen Cone, president and CEO of TowerGroup.

Edelman's primary goal is to raise media awareness, added Ethan Rasiel, EVP and head of Edelman's New York tech practice, who is leading the firm's work on the account.

“Our mission is to enhance [its] profile,” he said. “We want journalists to think of TowerGroup first when they want a quote from an industry analyst.”

After a two-round RFP process that included six firms, the search was narrowed to Edelman and incumbent US AOR CooperKatz, which TowerGroup had worked with for seven years, said Cone.

“[CooperKatz] had done an outstanding job,” she added, “[but] TowerGroup has grown significantly and we needed the strong global presence that Edelman has.”

Andy Cooper, principal at CooperKatz, agreed that his agency had an amicable relationship with TowerGroup, but that the company needed a firm with global reach.

Edelman had already been serving as the company's UK AOR. It will draw on both its tech and financial practices for the account.

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