De La Rue head of corporate affairs Mark Fearon said the company had appointed Financial Dynamics as its retained corporate and financial PR adviser after a competitive pitch process.
But Fearon declined to say how many firms were involved in the pitch or whether Brunswick had been invited to put in a bid for the business.
‘We felt that it was time to make a change.’ said Fearon. ‘FD had a strong team and we found the sector focus of its practice groups particularly attractive. This is the structure followed by analysts in most investment banks.’
FD director Richard Mountain and managing director Andrew Lorenz are running the De La Rue account. Mountain and Lorenz are heads of FD’s support services and industrial sector respectively.
As well as conventional financial calendar work, FD is expected to work on De La Rue’s corporate profile and its position as a global banknote maker. The company produces the national currencies of around 150 countries in total.
De La Rue secured the contract to print the new Iraqi dinar in July last year. Iraq’s provisional authority instructed the company to begin issuing the new currency in October. The contract could bring De La Rue up to £10m in 2004.
At its annual general meeting last October, De La Rue said that the Iraqi contract would conclude at the end of its financial year, which runs until the end of March.
In November De La Rue announced profits of £19.7m. The company will present its full-year financial results on 26 May.