AXA IM plans shake-up in wake of Framlington deal

AXA Investment Managers is poised to review its comms following this week’s acquisition of Framlington Investment Management.

The review will have implications for the PR departments of both companies and puts up for grabs the comms accounts of two of the City's most high-profile fund managers.

AXA IM retains Penrose Financial while Framlington has used Polhill Communications for the past two and a half years.

AXA IM senior PR manager Zaman Toleafoa said it would need to review the PR arrangements for both companies in the next few months. But he added that no decision had been made on whether to put a joint account out to tender or review the briefs separately.

'Any of those options is a possibility,' Toleafoa said.

Framlington head of marcoms Neville Vyas said nothing would happen before completion of the deal this week.

 'Then we will look firmly at the AXA and Framlington PR teams,' he added.

AXA IM announced in September that it would buy Framlington from HSBC Holdings and Comerica Incorporated for £174m.

The acquisition will see Framlington rebrand as AXA Framlington.
The purchase of Framlington will give AXA IM a significant boost in the UK retail fund market.

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