WS is axed as SVG appoints Penrose

FTSE 250 fund investor and Permira backer SVG Capital has dropped Weber Shandwick Square Mile as its retained corporate and financial adviser of two years. It has hired Penrose Financial.

Alice Todhunter, SVG director of IR, said she had chosen Penrose because the firm had more financial services experience in the areas of private equity and institutional asset management. SVG needs to raise its profile among institutional investors.

The move follows the defection of WS Square Mile senior consultant Emma Thorpe earlier this month (PRWeek, 14 January). Thorpe worked on the SVG account while at WS Square Mile.

The firm rebranded as SVG Capital from Schroder Ventures International Investment Trust last year to emphasise the fact that it has been completely independent of Schroders since the 1990s.

SVG is the largest investor in high-profile private equity firm Permira. SVG capital has assets and commitments of more than £2bn.

Penrose is briefed to handle SVG’s financial calendar work, corporate comms and PR for the firm’s private equity and public equity fund management.

Thorpe is working on the account, which is led by Penrose MD Gay Collins and deputy MD Andrew Nicolls, who report to Todhunter.

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