BEIJING: The Blueshirt Group has expanded its footprint from the US to China with an office in Beijing, led by MD Gary Dvorchak.
In addition to Beijing, the IR and IPO advisory firm, which has 100 clients and 50 employees, has offices in New York and San Francisco.
Two years ago, Blueshirt launched an energy practice, followed by a healthcare practice this summer, and now "Asia marks our next area of expansion," said Alex Wellins, cofounder and MD of the firm.
China has always been of interest to the agency because of its strong source of capital market activity and Chinese companies going public in the US, said Wellins. He added that it’s the right time for Blueshirt to enter the region because "China markets are slowing down a bit."
"There’s a lot of volatility and we think this presents a strong opportunity for us because we believe that, in volatile times, companies need experienced guidance and investor relations advisory more than ever and we believe we’re ideally suited to deliver that," said Wellins.
Wellins said Blueshirt often works with companies on their IPOs and then continues working with them once they’ve gone public, such as Fitbit and TubeMogul.
The agency already has three accounts it is servicing out of the Beijing office, and while Wellins declined to disclose the client names, he said they include solar energy, Internet, and media companies.
Dvorchak, who joined Blueshirt in April after serving as an SVP at ICR, according to his LinkedIn, will be the only staffer on the ground in Beijing at the moment. Wellins said the firm will staff up its China operation as it grows its client roster.