Amber Rudd and Sir Craig Oliver have resigned from Teneo and are now understood to be on six months’ gardening leave before joining FGH next year.
Oliver, former director of communications in 10 Downing Street under David Cameron, has spent the past five years as senior managing director at Teneo.
He told PRWeek: “I’m joining FGH as head of integrated strategic comms. I’m very excited about working for this impressive firm after five great years at Teneo.”
Meanwhile, it emerges that Amber Rudd, the former Home Secretary, who joined Teneo as a senior advisor in February last year, is also leaving to join FGH in a similarly senior advisory role.
Rudd is the sister of Finsbury’s well-known founder Roland Rudd, who is now global co-chairman of FGH.
PRWeek understands Oliver and Rudd’s departures were announced in a Teneo internal email yesterday (Tuesday).
FGH’s managing partner in London, Faeth Birch, is keen to ramp up the agency’s firepower in crisis and issues consultancy as the corporate comms world continues to boom in the wake of the pandemic.
As governments in the UK and around the world have become more interventionist in the business world, practitioners with experience in high-pressure roles in politics are seen as particularly valuable.
There has been a raft of senior departures from Teneo this year, most notoriously the founder and global chief executive, Declan Kelly who resigned from the firm in June following allegedly inappropriate behaviour at a Global Citizen event in early May.
Another co-founder, Doug Band, left Teneo – which was valued at more than $700m in 2019 following an investment from venture capital group CVC – earlier this year.
More recently, Paul Durman, an MD at Teneo, defected to Brunswick as a partner last month, firing a broadside at Teneo in an internal email that was leaked to the national media.
The firm, which is now run globally by the third co-founder, Paul Keary, will be keen to change the narrative in 2021. The UK operation is run by chief executive Nick Claydon, formerly of Brunswick, and chairman Fraser Hardie, who co-founded Blue Rubicon.
Teneo continues to be one of the world’s largest corporate advisory firms with a roster of clients that includes Coca-Cola, General Electric and Tesco. Following completion of a deal to acquire Deloitte’s UK restructuring business this summer, the firm employs about 1,250 staff and has revenues of close to $400m.
Teneo employs about 600 people in the UK. Since the beginning of the pandemic it is understood to have hired more than 120 people into its Strategic Communications and Management Consulting businesses and completed two strategic acquisitions in Ridgeway and Restructuring.
Neither FGH nor Teneo were available for comment when this story was published.