Finsbury, Glover Park and Hering Schuppener merge to create new supergroup
Creative Transformation Company, WPP, has taken a 50.01% stake in the newly created group, Finsbury Glover Hering.
It has been announced this week that communications firms Finsbury and Hering Schuppener, and public affairs specialist Glover Park Group, are merging to form Finsbury Glover Hering.
49.9% equity will be retained by executives of the three firms whilst WPP, will take a 50.01% stake.
WPP is no stranger to the merging of businesses. It has had a 100% share of Finsbury and Glover Park since 2001 and 2011 respectively.
The communications giant has also had a 56% stake in Hering Schuppener.
Talking to PRovoke, Finsbury founder Roland Rudd said of the development: “We started talking about this five years ago, But the fact is we have not been one company. Making it one company with a clear strategy and a clear structure and a single management board will make a significant difference.”
Headquartered in New York, Finsbury Glover Hering will provide three areas of expertise; capital markets communications, public affairs, and corporate reputation management. With 700 employees globally, the firm will rank among the top 15 PR agencies in the world with an estimated revenue of just over $200 million.