RICHMOND, VA: Genworth Financial has consolidated its PR agency roster and appointed Prosek Partners AOR after a competitive review.
Prosek began working on the expanded account with the insurance and financial services company on January 1. The firm is helping Genworth tell its story and position it among stakeholders, said Al Orendorff, SVP of public relations at the company.
He added that the firm was selected from five finalists but declined to name the other agencies that participated in the pitch. An account budget was not disclosed.
Previously, Prosek and Peppercomm handled the bulk of Genworth's PR duties, Orendorff added. Prosek, which specializes in financial communications, has worked with Genworth since 2007 on its long-term-care business.
“We were looking for an agency that had a certain level of expertise, understood our business objectives and culture, and would be easy to work with,” Orendorff said.
Peppercomm did not re-pitch for the business.
“Peppercomm and Genworth enjoyed a great relationship for more than 10 years. However, the relationship had run its course and we decided not to participate in the Genworth agency review,” said Peppercomm co-founder and managing partner Ed Moed. “We wish them much success with their new agency partner.”
Genworth continues to employ other agencies for work with smaller business units. Chlopak, Leonard, Schecter, & Associates works on Genworth's US mortgage insurance division.
“We are excited by the opportunity to consolidate the Genworth communications mandate under the Prosek brand. It's a reflection of our diversified global offerings including IR, PR, social, and transaction communications,” said Prosek Partners managing partner Jen Prosek, who added that Genworth has a “talented and fun team.”
Based in Richmond, VA, Genworth Financial is a Fortune 500 company with about 6,400 employees. It said earlier this month that it will create a new parent entity to separate the company from its mortgage-guaranty business, according to Bloomberg. Thomas McInerney became Genworth's president and CEO on January 1, replacing acting chief executive Marty Klein. Previous CEO Michael Fraizer resigned last year.