It is understood that M co-founder Nick Miles will be leading a team advising UBS IB, which was known as UBS Warburg before it was renamed earlier this year.
While the exact nature of the work, which Miles will be carrying out for UBS IB is unclear, it is understood that the firm will be paid on a piecework basis for advice on forthcoming ‘special projects’.
In June this year UBS IB made 100 City bankers redundant as part of a round of 500 job cuts at the bank’s London operations. The redundancies were to cut costs in the face of the low level of merger and acquisitions activity.
Staff at M refused to comment on whether the firm’s role would be to handle the fall out from these and possible future redundancies but it is understood that M will be dealing with such negative coverage, as well as the investment bank’s involvement in M&As.
At the beginning of this year UBS sued corporate event organiser Sports Mondial for allegedly serving ‘warm beer and cheap wine’ instead of ‘luxurious hospitality’ at a £90,000 corporate trip to the 2001 Uefa Champions League. UBS claimed unquantified damages from Sports Mondial, which it had alleged had damaged its reputation and ability to win clients because of the quality of food and service (PRWeek, 14 February).
In July last year UBS Warburg scrapped the role of head of global communications and marketing following the departure of Michel Ogrizek to the World Economic Forum (PRWeek, 7 July 2002).
Earlier this summer M succeeded Cubitt Consulting as PR adviser to law firm Ashurst Morris Crisp. Miles is reporting to the law firm’s head of branding and communications Marina Galanti with a brief to increase Ashurst’s coverage in the financial press and business pages of the mainstream press.
Nick Miles and Hugh Morrison founded M in October 2002 (PRWeek, 4 October).