NEWS: Guinness Mahon looks around but denies PR review

Guinness Mahon, the Japanese-owned merchant bank, is testing the market for financial PR agencies, which could result in a full scale review early next year.

Guinness Mahon, the Japanese-owned merchant bank, is testing the market

for financial PR agencies, which could result in a full scale review

early next year.



The bank - bought by Bank of Yokohama in 1989 for pounds 200 million -

uses Grandfield for financial PR and corporate relations. The account,

held by Grandfield for four years, is believed to be agency’s largest

and is worth around pounds 150,000 in annual fees.



Patricia Evans, head of group marketing and communications, is known to

have visited at least one consultancy to assess the contribution they

could make to the bank’s PR activities. Industry sources indicate that

other agencies have been contacted for initial talks.



Evans denied that she was reviewing Grandfields’s account, although she

conceded that a review could, conceivably, take place during the middle

of next year after the end of the bank’s financial year in April.



‘We are working with Grandfield and that relationship is ongoing,’ said

Evans. ‘We have always been with them and we are very happy with their

work. I visit agencies with clients all the time and they often ask what

the chances are of getting the Guinness Mahon account, but I am not

reviewing.’



Guinness Mahon employs around 750 people worldwide. Lately it has

expanded into private banking, offshore trusts and film finance.



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