Temasek selects WMC for first city comms role

Asian investment outfit Temasek Holdings has ushered in WMC as its first retained UK financial comms agency.

Barclays: Temasek is a shareholder
Barclays: Temasek is a shareholder

WMC, which will soon merge with Pelham PR, was appointed without a formal pitch for a brief understood to be worth more than £200,000.

WMC has previously worked with the firm on a project basis when Temasek invested more than £500m to become a 2.1 per cent shareholder in Barclays bank.

That deal was arranged as Barclays was looking to buy Dutch bank ABN Amro – a move which has now been abandoned. But analysts suggest Temasek’s investment in Barclays has made the British bank a much stronger outfit financially.

Temasek is thought to have spoken to a number of agencies, although the process never actually graduated to a formal pitch.

David Wynn-Morgan, soon to become chair of Pelham PR, heads the account, reporting to Temasek head of corp comms Myrna Thomas.

Temasek is a state-owned investment company headquartered in Singapore that controls the investments of the Singapore government. It has a staff of more than 300 and manages a portfolio worth more than £50bn. 

Reports suggest Temasek is currently planning a takeover of Malaysian automation equipment manufacturer LKT Industrial.

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