Brunswick Group
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Brunswick Group is a British public relations company headquartered in London, England. As of 2024, Brunswick claimed as clients roughly one-third of the companies in the FTSE 100 and a stable of international corporate groups such as AT&T, BlackRock and LVMH. [1][2]
Description
[edit]Brunswick employs 1,300 in 27 cities around the world.[3]
Brunswick reported revenues of £413mn in 2022, having diversified from public relations into areas including investor relations, regulation, environmental, social and governance; and geopolitical advice, with a significant US advisory arm. [1]
In 2024 to date, Brunswick Group advised on 155 transactions totaling $279.9 billion, including high-profile deals such as the Paramount-Skydance agreement, Endeavor's sale to Silver Lake, and BlackRock's acquisition of Global Infrastructure Partners. The firm also provided strategic advice on Starbucks' proxy fight and Reddit's IPO.[4]
In February 2024, Brunswick appointed Henry Timms, former CEO of New York's Lincoln Center for the Performing Arts, as its new head. Timms succeeds Neal Wolin, who previously served in senior roles under the Clinton and Obama administrations.[1]
In 2021, Brunswick Group agreed to sell a 10.7% stake to BDT Capital Partners, a U.S. investment fund led by Warren Buffett's banker Byron Trott. The deal valued the British public relations firm at £500 million ($697.85 million).[5] As part of the transaction, the firm's founder & Chairman Sir Alan Parker received £70 million from the sale of his stake.[3]
Controversy
[edit]In 2024, Stanford University's School of Sustainability enlisted Brunswick Group to address potential reputational challenges linked to its ties with fossil fuel companies. The decision has drawn criticism from campus climate activists, who oppose Brunswick's work with oil and gas firms. Brunswick defends its role, asserting that engaging with companies in complex industries is essential for advancing decarbonization efforts. [6]
Brunwswick Chairman Sir Alan Parker's leadership of Save the Children faced controversy over allegations of mishandling complaints against former chief executive Justin Forsyth. In 2015, a report suggested that Parker's close relationship with Forsyth may have influenced his response to accusations of inappropriate behavior made by three female employees. Critics argued that the organization's leadership failed to address the complaints adequately, leading to scrutiny of Parker's role in the matter. Parker declined to comment on the allegations.
[7] Roughly a week after the inquiry was announced, Parker resigned.[2]
References
[edit]- ^ a b c O’Dwyer, Michael (February 7, 2024). "Brunswick hires Lincoln Center boss to spearhead global expansion".
- ^ a b https://www.nytimes.com/2018/07/14/business/alan-parker-save-the-children-brunswick.html "A Crisis Management Guru Bungles a Crisis"
- ^ a b Washtell, Francesca (June 23, 2021). "Sir Alan Parker to bank £70m windfall from the sale of Brunswick stake". This is Money.
- ^ "Reuters deals editor Roumeliotis to join Brunswick Group".
- ^ https://www.reuters.com/article/business/britains-brunswick-group-to-sell-nearly-11-stake-to-us-fund-memo-idUSKCN2DZ2JT/ "Britain's Brunswick Group to sell nearly 11% stake to U.S. fund - memo"
- ^ Noor, Dharna (June 17, 2024). "Stanford disappoints critics of fossil fuel donations by hiring PR firm with big oil ties" – via The Guardian.
- ^ "Save the Children 'failed' to deal with women's complaints". March 7, 2018 – via www.bbc.com.