M&C Hotels hires FD prior to 9/11 compensation bid

Millennium & Copthorne Hotels has terminated a ten-year relationship with Brunswick as it launches a £25m lawsuit against its insurance broker.

Financial Dynamics took over as M&C's retained adviser since 1 January, following a competitive pitch for the business towards the end of last year.

Brunswick, which had handled M&C's financial communications since its stock market listing in April 1996, also took part in the
review of the brief.

The account, thought to be worth more than £100,000, is now led by FD senior vice-president Ben Foster.

M&C deputy company secretary Lawrence Holcroft declined to comment. The company owns 91 hotels in 15 countries, including the Millennium Hotel in London's Mayfair.

Last November the company – whose Singaporean chairman Kwek Leng Beng has 52 per cent control – posted a seven per cent rise in revenue to £427.6m for the nine months to 30 September. Third-quarter revenues were up eight per cent at £146.6m, while operating profit increased from £56.6m to £64.5m.

M&C is suing its former US insurance adviser and broker Willis for compensation following 9/11.

In particular the action centres on the Millennium Hilton Hotel, which stands opposite the site of the felled World Trade Center in New York. M&C claims it should be reimbursed for business lost as a result of security measures following the terrorist attacks.

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