French IRs form trade body

PARIS: France’s top finan-cial PR firms have set up an industry body to raise their collective profile in an increasingly competitive market.

Gavin Anderson & Company France, Financial Dynamics and Publicis Groupe firm Finincom are three of the 15 companies that have launched the Association des Professionnels en Communication Financiere Reglementée (Procomfi).

The firms, which specialise in advice to companies involved with Euronext’s Parisian stock market, have set up the body as a mouthpiece for private agencies.

The Cercle de Liaison des Informateurs Financieres en France (Cliff) is the only other main French IR industry body, but deals largely with the concerns of in-house IR practitioners.

Procomfi treasurer and Econeo partner Olivier Le Guay said the association would meet Cliff to discuss issues affecting financial PR, such as how International Financial Reporting Standards will affect the work of financial PROs.

‘IR firms are under pressure from banks and accounting firms that are also trying to get in on the act,’ said Le Guay.

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