City & Corporate: Penrose inks website deal

Penrose Financial has signed a strategic partnership with a social networking site, in the first such link-up for a financial comms firm.

The agency has confirmed a deal with Hub Culture, a business-oriented networking website - dubbed 'a base for global knowledge leaders'.

The Hub Culture community launched in 2002 and consists of 20,000 business experts from various industries who have been invited to join or have been recommended by existing members.

Andrew Nicolls, senior partner at Penrose, said: 'With increasing demand from our clients to be more active in social media, we have been looking into how to address this important mechanism for building real-time, lasting audience relationships.'

Penrose will use the partnership to boost its online presence and build debate about financial issues across the social media landscape.

Hub Culture not only provides its members with the usual social networking tools, but also established the first digital currency that can be used to buy, sell and share knowledge globally.

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