BZW, the investment banking subsidiary of Barclays, has hired the
Edelman Worldwide network on a pounds 1 million plus contract for the
international launch of its asset management business, BZW Global
Investors.
The appointment, made two weeks ago, comes after competitive pitches in
the US. Edelman’s San Francisco office will act as the ‘gatekeeper’ of
programme activity set to be launched around the world early next year.
However, decisions are still being made on exactly what the agency’s 12-
month contract will involve. One source said the programme called for
everything from strategic counselling, to devising core messages, and
creating and delivering an entire marketing plan for the company.
Asked whether the BZW Global Investors name was likely to change, the
source said: ‘Several possible names are being discussed.’
BZW Global Investors is the result of a merger of BZW Asset Management
and Wells Fargo Nikko Investment Advisors, (WFNIA), the US fund manager
acquired by Barclays in June for pounds 275 million.
Details of the merger are due to completed by the end of the year,
creating one of the world’s largest institutional management companies
with pounds 160 million of funds.
Its main area of business is quantitative funds which aim to track
indices and rely heavily on technology. WFNIA is the world’s largest
‘quant’ fund management business and BZW Asset Management is the leading
‘quant’ manager in Europe. The decision to hire Edelman was made by a
committee of representatives from WFNIA and BZW in San Francisco.
BZW head of corporate communications Peter Baillie confirmed Edelman’s
appointment to ‘launch and establish BZW Global Investors,’ but said it
was too early to give further details.
