Cubitt to take control of German bank’s PR

One of Europe’s largest banks, Westdeutsche Landesbank Girozentrale, (WestLB), has appointed Cubitt Consulting to handle corporate PR and media relations for three of its divisions on fees believed to be more than pounds 250,000.

One of Europe’s largest banks, Westdeutsche Landesbank

Girozentrale, (WestLB), has appointed Cubitt Consulting to handle

corporate PR and media relations for three of its divisions on fees

believed to be more than pounds 250,000.



In addition to investment banking arm WestLB Panmure, Cubitt will look

after WestLB’s asset management, global derivatives and fixed income

divisions.



WestLB Panmure marketing director George Knight, who Cubitt will report

to, confirmed the appointment.



The bank is understood to have considered Citigate Dewe Rogerson and one

other agency for the work, although there was no formal pitch.



Simon Brocklebank-Fowler, who founded Cubitt last year, had been MD at

Citigate before his move. Citigate had held the account for investment

banking firm West Merchant Bank, a division of WestLB.



West Merchant Bank itself was merged with WestLB’s other investment

banking business last autumn, renamed WestLB global emerging

markets.



The merger was part of a process of gradual integration of WestLB’s

businesses and following exposure to emerging markets in crisis,

including Russia.



Citigate’s account is understood to have been worth around pounds

150,000 in annual fees initially, although this would have dwindled to

around pounds 50,000 a year by last autumn. Citigate’s contract ended in

December. Brocklebank-Fowler declined to comment.



WestLB is Germany’s largest regional bank. WestLB Panmure employs 1,500

people in London and specialises in six sectors across Europe:

communications, media and entertainment, industrials, life sciences,

transportation, technology, and services and outsourcing.



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