The investment firm wants Penrose to raise brand awareness and help drive sales for its financial planning, investment management and pensions advisory teams. Head of retail and partner Claire Burston heads the account, reporting to BDO's business development director John Porteous and communications head Mairi Doyle.
News of the account win comes in the same week as the technology, media and telecoms editor of Dow Jones newswires is to leave to take a post at Penrose Financial. Kay Larsen will join on 23 April as an account director working with Penrose's private equity team.
Penrose, the firm's first agency, was appointed after a competitive pitch. BDO employs around 200 people and has 12 offices across the UK, being the wealth management arm of BDO Stoy Hayward LLP, the UK's fifth largest accountancy and business advisory company.
Earlier this month Penrose also poached The Banker's technology editor Dan Barnes, who will be reporting back to deputy MD Andrew Nicolls.
Earlier this year the firm brought in Alexees Diggins as senior account manager and Jignasa Patel as a senior account executive.