Financial PR for FTSE 100 companies is being dominated by an elite
band of five agencies, according to a recent survey by investment market
researchers City Insights.
Brunswick, which has 21 FTSE 100 companies as clients, tops the league
of consultancies, which between them handle 80 per cent of those FTSE
100 stocks which have nominated advisers.
The other major players are Lowe Bell and Financial Dynamics which
handle 12 FTSE 100 clients each, Dewe Rogerson representing six, and The
Maitland Consultancy which works for five blue chip companies.
A second tier of agencies including Ludgate, Gavin Anderson, Citigate
and Hudson Sandler count FTSE Mid 250 companies as clients. However, the
chance of second tier advisers breaking through the FTSE 100 glass
ceiling to gain blue chip clients is slim.
Responses from the survey’s sample of corporate management of UK quoted
companies, brokers’ analysts and corporate financiers, indicate that
second tier agencies are unlikely to build their FTSE 100 client list
through organic growth or providing better service. Clients rarely
differentiate between PR advisers on the basis of service quality and
changes in the agency roster only usually occur following a change of
Second tier agencies appear most likely to gain FTSE 100 clients through
the defection of ’star advisers’ and their clients from first tier
The survey found that clients often regard the individuals they work
with as more important than the agencies they represent, although their
prominence remains founded on their client list.