Richard Sermon is returning to Shandwick Consultants, the agency he
founded with Peter Gummer back in 1979, after four years on secondment
to investment bank Goldman Sachs International.
His new position is as part-time, non-executive chairman of Shandwick
Consultants - a position previously held on an executive basis by Colin
Trusler, managing director of Shandwick UK.
Chris Matthews, chief executive of Shandwick Consultants, will continue
to be responsible for the day-to-day management of the company. Both
will report to Trusler.
‘My job is to run the board not run the business day-to-day,’ said
Sermon, who will also work on specific accounts.
Sermon’s relationship with Shandwick is as a consultant. He expects to
spend 20 per cent of his time on Shandwick business. The rest he will
split between his other interests which include Lloyd Thompson Group, a
publicly quoted insurance broker, and Wrightson Wood Associates, an
executive search consultancy.
He will also continue to provide consultancy to Goldman Sachs on a
personal basis, although his new role at Shandwick marks an end to the
agency’s highly lucrative account with the bank. Worth around pounds 3
million in fees to the agency when it was hired in 1992 to handle the
fall-out from the Maxwell fraud trial, this has been scaling down since
the beginning of the year.
Martin Cardoe, who was also on secondment from Shandwick, has now joined
Goldman Sachs as number two to its recently appointed director of media
relations, David Woods.