NEWS: Top US banks seek senior PR staff for Europe

Three leading US investment banks - Goldman Sachs, JP Morgan and Morgan Stanley - have been trawling the market for top executives to head their European PR.

Three leading US investment banks - Goldman Sachs, JP Morgan and Morgan

Stanley - have been trawling the market for top executives to head their

European PR.



Goldman Sachs is thought to be on the verge of appointing a director of

PR for its international operations following five years in which it has

relied on the resources of its PR agency Shandwick.



The agency was hired on a project basis in 1991 to handle PR around

Goldman Sachs’ involvement in the Maxwell pension funds scandal and was

later given the task of restructuring the bank’s PR operation outside

the US.



Shandwick International chief executive Richard Sermon has been on

permanent secondment to the bank since 1992. He was joined by Martin

Cardoe in 1993.



It is not clear what their roles will be once the new PR director is in

place and neither would comment on the appointment. The nature of the

consultancy role is also likely to change. The account, once worth

between pounds 2 million and pounds 3 million in fees, has been scaling

down since the end of the Maxwell fraud trial in January.



Meanwhile, Morgan Stanley and JP Morgan are still recruiting. Morgan

Stanley is looking for a vice-president of corporate communications who

will report to Amelia Fawcett, the bank’s operations officer for Europe.



JP Morgan is seeking a PR executive to join its two-man in-house team

headed by Joe Evangelisti, senior communications officer for Europe,

Middle East and Africa.



However, the successful candidate can expect to have a shot at the top

job, when this becomes vacant, probably early next year. Evangelisti,

who was seconded from JP Morgan’s US operation two and a half years ago

is expected to return to the US early next year.



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