East Midlands Electricity, which was acquired by US energy company
Dominion Resources in January, has retained Finsbury as its adviser on
financial PR and public affairs.
The move, which industry sources estimated to be worth some pounds
100,000 in fees to Finsbury, is a vote of confidence for the agency
following its work for East Midlands prior to and during the bid.
Dominion had previously used the Maitland Consultancy. The agency was
hired in November just two weeks before Dominion launched its pounds 1.3
billion bid for East Midlands, and worked for Dominion until this
Norman Askew, chief executive of East Midlands - and now a board
director of Dominion - said: ’Maitland did a good job and Dominion were
very happy with them’. However, he added: ’In terms of understanding and
getting inside the business which Dominion now have, Finsbury ... is who
we will run with’.
Finsbury’s brief is an unusually wide one covering advice on relations
with the financial media, politicians and the regulator. Askew said he
wanted a single agency that understood and ’signed up’ to the objectives
of the business.
On tackling political issues such as Labour’s windfall tax, he said: ’We
have very strong views on it but we don’t want to make headlines and
Finsbury know that.’
A Dominion spokesman stressed that the relationship with Maitland was
’dormant’ and said it was possible the company would be ’sitting down’
with Maitland in the future to see if there were any areas it could be