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User:Charlotte at FGS/FGS Global update

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FGS Global
IndustryPublic relations
Founded1994; 30 years ago (1994)
FounderRoland Rudd
Headquarters
London & New York
Area served
Global
ParentWPP plc (50.01%)[1]
Websitefgsglobal.com

FGS Global is a public relations company based in London and New York that specializes in financial services clients. It is a subsidiary of British advertising and media conglomerate WPP plc.

History

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Finsbury was founded as Finsbury by Roland Rudd in 1994.[2] In 2001, the firm was sold to WPP in a deal that the Financial Times estimated earned Rudd £40 million.[3][4] Rudd remained chairman of the company.[3]

In 2006, Finsbury opened a US office and appointed Andrew Merrill as US chief executive.[5]

In 2007, Canadian publisher Thomson used Finsbury to complete their merger with Reuters, to create the company, Thomson-Reuters.[6]

In 2011, Finsbury[2] merged with Robinson Lerer & Montgomery of New York.[7][8] Rudd continued as chairman and Walter G. Montgomery became chief executive officer of the enlarged firm. Montgomery retired as chief executive officer in 2014 but remains a partner in the firm.

In 2012, various publications reported on RLM’s involvement in editing the Wikipedia page of Alisher Usmanov, and the firm publicly apologized in The Times.[9]

In 2014, RLM Finsbury rebranded as just Finsbury which the firm felt would underline its global ambitions.[10]

In June 2020, Finsbury developed “Finsbury’s Workforce Return,” a service that guided businesses in managing employees returning to the work place after the Covid-19 lockdowns.[11]

In January 2021, Finsbury, The Glover Park Group (GPG), and Hering Schuppener completed their merger and management buy-in of 49.99%. The company became known as Finsbury Glover Herring.[12] At that stage, the company had 18 offices and almost 700 consultants worldwide. WPP remained a 50.01% investor.[13][14] Following the merger, Roland Rudd and Carter Eskew, founder of GPG, served as co-chairs of the new firm, and Alexander Geiser, Managing Partner at Hering Schuppener, served as CEO.[13][15] As of October 2021, the business was worth $917 million.[16]

In December 2021, Finsbury Glover Hering and Sand Verbinnen & Co. merged and rebranded as FGS Global. Alexander Geiser was appointed as CEO.[17] At the time of the merger, the agency had 25 offices in North America, Europe, the United Kingdom, Asia, and the Middle East, and over 1,000 employees.[10][13]

In October 2022, FGS Global opened its 8th office in Europe.[18] Also in 2022, the firm ranked number one in terms of the volume and the value of mergers and acquisitions deals.[19] In January 2023, FGS Global led communication consulting in operations in Spain.[20]

Shareholders

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As of 2023, WPP owned 57.4% of FSG Global. Golden Gate Capital owned 40% of Sand Verbidden & Co., and holds a small stake FSG Global following the merger. About 40% of the company’s employees are shareholders, of which 25.9% were FGH employees.[10]

References

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  1. ^ "News of Firms: Finsbury Glover Hering Debuts". O'Dwyer's PR.
  2. ^ a b "Finsbury". www.holmesreport.com. Retrieved 1 March 2016.
  3. ^ a b "Finsbury Glover Hering". fgh.com. Retrieved 1 March 2022.
  4. ^ Kellaway, Lucy (12 August 2011). "The networker". Financial Times. Retrieved 1 March 2022.
  5. ^ "Finsbury debuts NYC Office". PRWeek. 8 June 2006.
  6. ^ "Thomson Hires Finsbury for Merger with Reuters". PRWeek. 9 May 2007.
  7. ^ Drolet, Danielle (19 July 2011). "WPP agencies merge to form RLM Finsbury". www.prweek.com. Retrieved 1 March 2022.
  8. ^ "WPP merges Finsbury and RLM". Financial Times. 20 July 2011. Retrieved 1 March 2022.
  9. ^ "RLM Apologizes for Wikipedia Scrub". O'Dwyer's. 12 November 2012.
  10. ^ a b c Bradley, Diana (17 September 2014). "RLM Finsbury rebrands to underscore global ambitions". www.prweek.com. Retrieved 1 March 2022.
  11. ^ "Finsbury Launches 'Workforce Return' Service". PRWeek. 10 June 2020.
  12. ^ "Finsbury Glover Hering Adds Two MDs Pan European Team". PRWeek. 13 July 2021.
  13. ^ a b c "Finsbury Glover Hering Names Global Leadership After Merger". PRovoke Media. 11 January 2021.
  14. ^ "News of Firms: Finsbury Glover Hering Debuts". O'Dwyers PR.
  15. ^ "Hering Schuppener schafft neue globale Kommunikationsberatung". Handelsblatt. 7 July 2020.
  16. ^ "Combined Finsbury Glover Hering, Sard Verbinnen Rebrands as FGS Global". PRWeek. 14 June 2022.
  17. ^ "Finsbury Glover Hering fusioniert ein weiteres Mal – nun mit dem US-Konkurrenten". Handelsblatt. 13 October 2021.
  18. ^ "FGS expandiert in die Niederlande". PRReport. 13 September 2022.
  19. ^ "FGS Dominated 2022 Global M&A Rankings; Prosek And Lambert Surge". PRovoke Media. 22 January 2023.
  20. ^ "Kreab y FGS Global lideran la asesoría de comunicación en operaciones en España, con 12.354 y 9.431 millones". Forbes Spain. 19 January 2023.
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