Abchat

Five minute Abchat - Jessica Allum

2012-01-13T16:28:00.001Z

Our newest First Class Honours graduate, Jessica Allum answers the Abchat questions...

• What did you want to be when you grew up?

My first life ambition was to be a dancer, but my lack of rhythm and coordination ruled that out. After getting my first cat, Fluffkin, I then decided that I wanted to be a vet. This dream lasted until the age of 15 when I undertook some work experience in Financial PR. From that moment on I knew I wanted to work within business, ideally in the City, in a role that combined the markets with communications.

• How did you get into PR?

My degree was largely focused around business, however I specifically selected to study a module in communications which was highly beneficial as I was exposed to the academic side of PR. I studied at the University of Sheffield and I carried out work experience at a number of Financial PR companies and asset managements firms. In their own ways each placement enhanced my desire to pursue a career in communications. Having graduated in 2011, prior to my role at Abchurch, I gained experience in in-house PR at a hedge fund.

• Describe your role in ten words or less (if that’s possible!):

Exciting, invigorating, interesting and enjoyable.

• If I wasn’t talking to you now, what would you be doing?

I would be finishing update reports and inviting analysts, lawyers and brokers to the Quoted Company Awards. At the same time I would be absorbing all the different facets to financial and corporate PR going on around me.

• What is the most interesting thing about your work?

There are a number of interesting elements, ranging from arranging analyst and media road shows for clients to witnessing how a piece of media coverage can influence a client’s share price. However I feel that the most interesting aspect of my job is the ability to work within a variety of sectors which enables me to broaden my knowledge and gain valuable experience into City life.

• What developments do you expect to see in the next twelve months?

When considering the broader area of the financial sector one of the key developments likely to be seen relates to tighter regulation in terms of corporate governance. However looking more specifically at the field of PR the first government- funded industry-wide PR apprenticeship scheme has been unveiled. Much more emphasis is likely to be placed on helping those who plan on not attending university in entering the PR sector; not a great surprise given the fact our Prime Minister is a former PR man.

Institutional Investors in AIM Breakfast 2011

2011-10-27T11:15:00.000+01:00

On Thursday 20^th October Julian, Jo, Quincy and Oliver attended the Institutional Investors in AIM 2011 breakfast, organised by Vitesse media.

Whilst the equity markets have continued to be incredibly volatile, the fact that Vitesse’s report revealed that institutional investors still have some £37.3 billion invested in AIM, up from £32.7 billion last year, should give all those involved within AIM some much needed confidence leading into next year.

With the continued malaise within the eurozone, it should not come as much of a surprise that institutions such as Blackrock and Henderson Global Investors are focusing their investments on emerging markets. Africa in particular, with its wealth of natural resources and minerals, has attracted a lot of investor interest, similarly, Asia and South America.

Following the presentation of the report, the breakfast provided all the attending advisers with an opportunity to network and it was great to see lots of familiar faces. The concluding remark of the report, that 54% of AIM is still owned by institutions, reiterated to all that even in tougher markets, there remains an active investor interest in growth companies with strong investment stories and quality management teams.

LSE Chief advocates for SMEs

2011-10-14T10:48:00.001+01:00

“There are 21.7 million people unemployed in Europe, and 23 million SMEs. If each SME were able to take on one more person…?This is why governments across Europe must look at all they can do to assist SME growth; these businesses are the essence of our future prosperity,” said Xavier Rolet, CEO of the London Stock Exchange last night at the AIM annual awards ceremony.

This year, the old Billingsgate Fish Market (built in 1874) hosted the event, which has arguably the best views of Tower Bridge in the city. Over 1,300 guests attended the dinner, comprising AIM quoted companies, NOMADS, brokers, accountants, lawyers and public and investor relations firms, making it the largest AIM gathering in the City. Sponsors of the event ranged from Argus to Zeus. And the overall winner of evening, taking the Company of the Year Award was May Gurney.

IPREX EMEA Fall Meeting, Stockholm

2011-10-03T10:00:00.044+01:00

I have just returned from IPREX’s EMEA Fall Meeting in the beautiful city of Stockholm. Based on the topical theme of Digital PR and The New Web, the meeting provided thought provoking insights into future developments and ways of practice.

The opening evening provided an idyllic combination of great food, wine and engaging conversations, a trend that lasted throughout. Peter Ericsson, a former IPREX partner, gave a talk on the rise and fall of PR, a subject of great relevance in light of the current economic climate. He took the group back to past events that led to the unfortunate closing of his firm in one week. Peter advocated the need for internal crisis plans as a form of security.

Highlights included a talk by Jim Walsh of Walsh PR via Skype. Jim discussed how a small PR firm can tackle the challenge of managing digital and online programs for clients. His independent research revealed that agencies are split on their approach: half hire a ‘guru’ on either a full or part-time basis, while the rest upgrade current staff skills to meet new demands.

Nicolas Merigeau of New Cap shared details of how his firm handled recent challenges regarding digital PR and crisis communication, emphasising the importance of online interaction. Nicholas used the example of Air France’s neglecting of online comments from customers regarding the price rise on flights from France to
Japan.

The full group in Mariatorget Square on Saturday afternoon

Beata Wickbom suggested that companies should see social media as an experiment, and that those who do are the most successful in the space. She believes that companies should focus on appealing to users’ emotions when operating in such a social environment.

A big thanks to Johan Wetterqvist of Spotlight PR and the EMEA team for hosting a highly beneficial event, with much to take away from.

It is well advocated that the communications landscape is becoming increasingly digitalised, as companies seek to offer multi-layered services. Every aspect of how we exchange information is feeling the impact of the technological revolution. Therefore, we as PR professionals must follow suit, and adapt to meet our client requirements.

With Facebook Inc., projected to float at US$100bn, it really does put the prominence of new media into context.

Henry Harrison-Topham, Managing Director

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F-star – a shining example of biotech and drug discovery

2011-09-08T16:20:00.000+01:00

The ingredients for a successful biotech company are actually much like any other early-stage business: a good product with customer interest, management skilled to commercialise the product, and the financial backing to make the project a reality. It’s the simple, TV Dragons Den formula.

The difference with biotech is in assessing the quality and robustness of the technology, finding suitably experienced management, and sourcing the weighty investment necessary to succeed---pharmaceutical companies still quote $500m per drug to market, although good biotech companies should slash these costs.

I’ve been tracking F-star (www.f-star.com) since late 2009, just before it raised €8million in an extended series A, drawing in the venture wings of two pharmaceutical plays: MerckSerono and Mitsubishi Tanabe Pharma. Yesterday (September 7th 2011) the company announced that from the early investment from MerckSerono, a product development deal had evolved worth just shy of €500m. MerckSerono is providing three drug targets in inflammatory disease to which F-star is creating antibody drug candidates through its Modular Antibody technology.

Between these two events with MerckSerono, the company has also struck a deal with Boehringer Ingelheim worth up to up to €180m for each of seven targets, and closed an additional financing round of €15m, led by SR-one, GlaxoSmithKline’s venture wing. Other investors in the business include Novo Ventures, the venture arm of Danish pharma group Novo, and a purse of established life science venture capitalists.

These events have all fallen under the leadership of Kevin FitzGerald, who took to the CEO seat just seven months before closing the €8m financing in January 2010. Along the way the company has also managed to attract the likes of Sir Greg Winter, arguably the world’s leading academic on antibodies, to head the scientific advisory board.

So, a great product with significant pharma interest; a management team that is actively (and rapidly) progressing the company’s potential; and all healthily financed in a way few biotechs are in the current cycle. F-star is fulfilling a simple business formula. It’s now probably too hot for even the fieriest of Dragons, but are there deep-pocketed investors in life science that will recognise, buy into, and further progress the F-star proposition? I sense so.

Adam Michael

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Chinese IPOs come back into favour

2011-08-15T16:00:00.001+01:00

Chinese companies have often been criticised for their turbulent relationship with UK investors. On AIM in particular they are often accused of not being transparent enough, and it is well documented that investors have had their fingers burnt by some high profile companies.

However, it seems that there is a flip side to this, and one that intuitive Chinese companies can capitalise on. Whilst the preconception is that these types of companies are prone to shying away from regular communication with investors, many fund managers still want exposure to the significant opportunities and vast markets that are present in China across a variety of sectors. There is a great opportunity, therefore, for companies that are prepared to be transparent and communicate openly to make a great success of their time on AIM.

Dongfang Shipbuilding, which joins AIM this week, is intending to leverage the market’s standing and corporate governance guidelines. By listing on AIM, Dongfang’s management intends to promote the Company as transparent and adhering to high levels of corporate governance, which will not only be reassuring to investors, but also help the Company to stand out amongst its peers in the Chinese shipbuilding industry. The Board believes that the European ship owners in particular will feel that the Company’s listed status in London will make it stand out in a crowded market and give a level of reassurance that isn’t possible as a private company.

With AIM listed companies such as China Food Company and Sorbic International putting considerable emphasis on transparency and behaving like Western-run companies but with the direct exposure to the growth in Asian markets, investors may finally be prepared to consider Chinese companies again as a good opportunity. Dongfang’s IPO this week reiterates that there is investor demand for Chinese companies that are well run and willing to play by the rules; and, in turn, they will be rewarded with their new found status as a listed company and the support of UK shareholders.

Henry Harrison-Topham

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Book Review: 'Priceless' by William Poundstone

2011-08-12T10:00:00.000+01:00

Intern at Centaur Media plc reviews 'Priceless' by William Poundstone for Mortgage Strategy

Economic principles will tell you that products are priced on the level of supply and demand as well as the cost of production.

It’s true that good businesses will always ensure they make more than they spend but that’s not all.

William Poundstone’s Priceless seeks to explain the dark art of selling and how to increase the selling price by psychological tricks. It provides insight into the underhand techniques that used-car salesmen and market dealers have been using for years.

These Jedi mind techniques will come in handy for mortgage brokers after one large firm recently revealed it has a 100% target for protection sales.

Cross-selling protection is crucial now and Priceless offers guidance to help you sell more and earn more. One technique is explained through a simple behavioural trick renowned in economics circles.

The book poses two questions. First, is the number of African countries in the United Nations higher or lower than 65?

Second, is the number of African countries in the United Nations higher or lower than 10?
The average guess of those asked the first question was 45 whereas the average answer to the second question was 25.

The reason the second answer is almost half the first is that the number in the question is used as a reference point. The technique is called anchoring and is often used in sales.
Poundstone cites the example of a canny Broadway producer pricing tickets.

“Cheap seats don’t sell, wanna know why?” he says. “If you price orchestra level or mezzanine seats cheap, people think there is something wrong with them.”

Brokers can use this technique effectively. If they set fees too low clients will consider them worthless so the Stella Artois catchphrase ’Reassuringly expensive’ is one brokers could adopt.

Anchoring can also be used to influence clients. For instance, would you like to pay more or less than £1,000 for your broker fees? Some people will ignore the anchor and think logically but most will be swayed to a higher or lower assumption than they originally thought.

There are other fascinating pricing strategies in the form of bundling of products. For example, when selling a blender it would be acceptable to tell the customer they are buying a blender and that’s all. But Poundstone highlights a salesman who marketed his product as a glass canister, blades, holding pod, electric wire and rotation tools.

Despite being identical, the second description gives the impression that buyers get more bang for their buck. The blender salesman charged more but went on to outsell his competitors.

It is worth remembering that when charging fees brokers should talk themselves up and highlight all aspects of their service. That could include offering quality advice, getting the best mortgage deals, a guide for buying a house and a hassle-free experience.

Poundstone also explains the theory behind techniques such as that used on the popular quiz show, Goldenballs. In the final section where contestants can share or steal a pot of money, Poundstone explains why some choose to steal while others share.

Priceless explains that pricing is never fixed and everything is negotiable. The examples are interesting and there is much to take away from this useful read.

Review by Stuart Hosie

This book discusses the art of what makes for good negotiating and price determination. By examining a series of sales and marketing techniques the book highlights principles which apply to the psyche of the consumer.

A very interesting book review; and recommended for any broker, or any professional who negotiates and interacts with people on a daily basis to have a read.

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Apple is world’s most valuable firm

2011-08-10T16:33:00.001+01:00

- Steve Jobs is the man-

Recent uncertainty in the stock market yesterday helped Apple to overtake Exxon Mobil to become the world’s most valuable company. However, the innovative work of Steve Jobs should not go unnoticed.

Apple briefly pipped Exxon on 9 August 2011 when the Company’s share price dipped due to a fall in the price of crude oil; a direct result of the market’s concern over The United States’s debt crisis and the increasing threat of a double dip. The

USA

is the world’s biggest consumer of crude oil and as a result, Exxon Mobil’s share price has seen a 20pc drop since reaching a year high of $87.98 in April 2011. On the other hand, Apple is a blossoming evergreen, with the Company’s share price having almost quadrupled in the last four years.

City workers, journalists and consumers are questioning how Apple is managing to expand at a time when other companies and even sovereign states are struggling to stay afloat. Could the simple answer be the work and vision of Apple CEO, Steve Jobs…?

The California based tech company is enjoying rapid expansion, with every results announcement continuing to boast record growth upon record growth. Furthermore, analysts do not expect this growth curve to plateau, as most still hold buy recommendations on Apple, despite the prospect of the deepening slowdown in the world economy. In fact the only time Apple’s share price did begin to level-out was in January 2011, when reports in the press stated Jobs had been taken ill again; arguably a marked testament to the markets’ faith in their CEO.

The argument that technology will continue to develop and demand will never dwindle is true, but Apple has to be acknowledged for its innovative products – the recognition of which should go to Steve Jobs. When Jobs was reinstated at Apple in 1997, he inherited a company worth $2billion. Apple was trailing behind Dell and the world of electronics was wholly dominated by Microsoft. Today the company is worth $341.5bn.

As the Internet became more widely accessible, Job’s first priority was to rebrand Apple. The company reacted and introduced the pretty coloured iMac computers. Over the years, this evolution has continued, with the iMac leading to the iPod, then to the iPhone and most recently, to the iPad. In just 14 years Steve Jobs has changed consumer computing, the entire music industry, mobile communications and brought tablet devices to the market (a concept one might have thought belonged in an H G Wells novel not too long ago).

The upcoming autumn launch of iCloud is yet another example of the company and Steve Jobs’s innovation. Jobs spotted that the proliferation of hand held wireless devices has led to businessmen and consumers being ‘online’ all the time, and as a result, there is increased demand to access and backup data through cloud based services. iCloud will actually overservice these consumer needs; further differentiating Apple from competitors such as Microsoft and Dell, and in turn, increasingly encroaching upon Google’s territory.

As Dominc Rushe in the Guardian comments: “One of Jobs’s early goals was to surpass Dell”. Apple have done just that. In 2006 their market capitalisation was $72.13bn vs Dell’s $71.97, and by May 2010 Apple’s market cap was $3bn greater than Microsoft’s. Now the technology giant’s market cap is rivalling oil companies. [1]

The soon to be launched iCloud service and the eagerly anticipated iPhone 5 will continue Apple’s dominance of consumer electronics under Jobs, with stores worldwide having flocks of dedicated followers queuing up overnight eager to get their hands on the latest Apple product.

When Steve Jobs decides to retire, the board at Apple has some task on their hands to replace him. It will not be easy.

Jamie Hooper

[1] Pg 24 Guardian 10 August 2011

AIM joins in on Global IPO fever

2011-08-01T12:02:00.002+01:00

A recent piece of research commissioned by Ernst & Young has offered all those associated with the financial markets reason to feel optimistic heading into the second half of the year. The report notes that Global IPO fundraising activity has risen by 38% in the second quarter of 2011, compared with the same period last year. Focusing on Europe in particular, the report comments that IPO fundraisers in the second quarter amassed to a huge 534% increase in capital raised, compared to the dealings from the first quarter of the year. Of particular note was the fact that dealings conducted on the London Stock Exchange were themselves responsible for US$12.6bn of the US$17.7bn raised within Europe’s stock markets. Whilst the blockbuster IPO fund-raiser of the Swiss commodities trader, Glencore, no doubt heavily contributed to this buoyant up-turn in capital-raising, further market sentiment would suggest that the London Stock Exchange is enjoying a very active period. In turn, the increase in Global IPO activity has also been heavily mirrored on the London Stock Exchange’s AIM market. The number of companies joining AIM has more than doubled to 16 in the second quarter of 2011, up from just seven in the first quarter. Furthermore, AIM has already completed 19 IPOs this year, with June in particular having been an especially strong month; the IPOs in June managed to raise £169.5m which was the highest amount raised on the market for six months. Market reporters suggest that the current trend of IPOs on AIM is set to continue throughout the second half of the year. Abchurch is certainly seeing an increase in activity and the team are working on a number of floats at the moment, one of which, Spectra Systems, a US specialist in advanced technology for banknote authentication floated on AIM in late July. Early indications suggest that Spectra Systems has continued the current IPO fund-raising trend on AIM by managing to raise £15m; a strong advance on the £5m initially hoped for. Furthermore, Spectra enjoyed a happy first day of dealings with the share price up to 78.5p having floated at 75.3p. .

Olly B

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Future Faces – Bring on the summer

2011-07-11T16:00:00.001+01:00

Future Faces on a Friday – now that is a great way to celebrate the end of another productive week in the City. The sun even poked its head out around midday, making the spectacular views from the office even more dazzling and setting the mood for the afternoon.

After the success of our last Future Faces party, The Robbie Boyd Band was back, entertaining guests with their Funky Folk sound and setting a really relaxed and informal tone to the afternoon. The party saw a mixture of the City’s up and coming analysts, brokers, and fund managers, mingling over canapés, while sipping Corona and chilled wine. For the more sensible and restrained of us there was a choice of summery, organic sparkling juices.

The turnout was great and the market banter gave all of us reason to think (and hope!) that maybe there are a few more deals out there, a pleasant change from most Julys when things in the City are starting to wind down for the summer. Quincy was MIA for this event, helping his family move house in Nigeria. His loud personality (and even louder voice) was missed but it was exciting to meet a lot of new faces who had not attended one of our events before and in return they got to meet the newest Abchaps, Jamie and myself. All in all it was a fantastic opportunity to get to know lots of new names and companies.

As Abchurch’s most recent graduate recruit, I was thoroughly impressed with the afternoon; as a newcomer to the City – it was a great way to get a better understanding of how things work and where everyone fits, in a relaxed and informal atmosphere.

Olly B

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The Life Sciences Party

2011-06-30T08:00:00.000+01:00

Date:
29th June 2011

Location:
The Abchurch Offices; 125 Old Broad Street

Attended by:
A selection of the life science City Financiers in London, a selection of the VC community and a contingent of the life science media, together with a number of young and exciting companies.

The Event:
With the Abchurch Life Sciences Team growing from strength to strength it only seemed appropriate to open our doors to the Life Science community for an evening of champagne and canapés, and give the newest member of our team, Jamie Hooper, the opportunity to meet and mingle with others in the industry.

In our series of themed events, this was our first Life Science party and it must go down as another great Abchurch success. We had a fantastic turnout of guests, all with a keen interest in the sector, either as analysts, journalists, corporate financiers or company Board members. We were delighted to have Nigel Brooksby, former Chairman of Sanofi-Aventis and current Chairman of the UK Life Sciences Council, give a short talk to kick start the evening, giving guests plenty of food for thought. One interesting, though controversial, point Nigel raised was that biotech “thinks pharma is slow and bureaucratic”, while Pharma “thinks they already know everything”. Quite how this will be addressed as Pharma and biotech need to work more closely in the future is still to find out. He was certainly opinionated – as an experienced industry specialist should be – and a great champion of UK biotech.

Abchurch’s Creative team rose to the occasion and the inspirational ideas really added that touch of genius to the evening. With waiters wearing purple Abchurch branded scrubs and a menu including gazpacho served in brightly coloured test tubes, seared beef in kidney trays, health and science was most definitely the theme. My personal favourite, the crème de la crème of the evening was a selection of jellies served for desert imaginatively presented in Petri dishes. With raspberry & rose, elderflower & gooseberry and lime & lemongrass flavours, exactly what they were supposed to look like, we won’t mention here – suffice to say they were realistic!

Many commented that it was refreshingly different to other events they had attended and it made for a thoroughly enjoyable and useful networking evening. I am looking forward to what creative surprises we can expect with a Green Gathering on the cards for October. The bar has certainly been raised.

Rebecca

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Five-minute Abchat: Rebecca Murch, Abchurch

2011-06-06T16:44:00.003+01:00

Our newest Intern is ex-businesswoman Rebecca (Becky) Murch, currently studying PR at Westminster University. We asked her why she made the move from sandwich shop owner to PR guru (in the making).

What did you want to be when you grew up?

I wanted to be an actress; I had the best dressing up box of all my friends. I use to put on little skits and plays for my family and then in my last year at primary school I put together a musical version of Cinderella with my best friend. All the songs were nursery rhymes but we changed the words. My parents still have a VHS recording of it, which they occasionally like to embarrass me with, at the time I thought it was worthy of an Oscar!

Why did you decide to get into PR?

I love communication and business and therefore it seemed to be a great direction to go in. I find it fascinating, particularly the challenge of liaising between an organisation and its different audiences.

Describe your course in ten words or less (if that’s possible!):

The first few words that pop to my mind are: Eye opening, stimulating, challenging, sometimes frustrating, but most definitely interesting.

If I wasn’t talking to you now, what would you be doing?

Trying to absorb as much information as possible, there is so much going on in the office and I am trying to get to grips with all the different clients and who is working on what. This is a different sector to any that I have worked in before so there is a lot to take in.

What is the most interesting thing about your course?

I would have to say the people that we get to meet. Westminster University have great contacts within the media industry who host seminars and lectures on campus. Their insight and experience is invaluable and really enhances the learning experience and if you are cheeky and take advantage they are great for getting top tips and creating contacts.

Do you think there is a common misconception about PR?

Yes, I do not think it is taken seriously enough. In my personal opinion Public Relations is an invaluable tool to businesses and a key component to the marketing mix but often it does not receive the recognition that it deserves.

How has the industry changed over the last couple of years?

I can only go on what I have learnt so far in my degree, I think the main change has been the development within the digital world and the 24/7 media environment that we now live in. I think that this brings with it new challenges as well as many new exciting opportunities and I think this will continue in the coming years.

What developments do you expect to see in the next twelve months?

I think there will be more and more developments within digital PRas media consumption habits are changing. This is a hot topic at the moment on my degree and every visiting practitioner spends time talking about the importance of including digital elements to campaigns and the importance of having an online presence. It has been fascinating to look at how the media landscape has changed in recent years and I think it will become more important in order to reach key audiences.

Future Faces - Easter Bunnies

2011-04-15T08:00:00.002+01:00

The first Future Faces of 2011 was also my first introduction to an Abchurch event, which had an impressive turnout of over 100 guests, specifically 100 of the City’s future faces. Many junior analysts, brokers and fund managers joined us, along with a healthy spattering of journalists!

Feedback on the day indicated it was another resounding success, with conversation and laughter flowing well into the afternoon.

What made this particular event unique was the addition of live music, supplied by The Robbie Boyd Band, an eclectic mix of talented musicians with a uniquely “Funky Folk” sound. It set the fun and informal atmosphere in the room as guests were treated to delicious canapés, Champagne, Corona and a range of organic sparkling juices.

Being my first event of this nature it was slightly daunting meeting so many new faces from different industries but you suddenly realise that there are others in the same position, with the biggest turn out to date and lots of new faces everyone was in the same position. Personally I met some really interesting people and had some fascinating conversations and it was particularly inspiring to hear so many compliments about the Abchurch Team and how much people have enjoyed previous events organised by them.

As an intern this is really exciting to hear and I must say the event was really impressive, not only in turnout but in the attention to detail that could be seen throughout. From the colour co-ordination of the bright purple Easter eggs, to the waiters always on hand to top up your glass and a menu that was topped off with sorbet and miniature Lindt Chocolate bunnies, the choice of catering, music and company were a great combination and it certainly exceeded my expectations. Gladly the length of my internship means I will be attending the next one of these awesome quarterly events!…..

Rebecca

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Out and about in March

2011-04-01T08:00:00.001+01:00

The end of March has brought with it an exciting diary of events and networking for the Abchurch Team. This week started with Mark heading down for a day at The Cheltenham Gold Cup, as a guest of finnCap. A great day promised with the weather clear and bright although ultimately there were more losers than winners as the group headed back to London that evening. As well as keeping up with a number of contacts in corporate finance and broking, Mark was introduced to the finnCap sales team and their respective clients.

This was followed by the Merchant Securities Spring Party on the evening of 24th March, attended by Julian. It was held at Paternoster Chophouse, located by St Paul’s Cathedral. Paternoster specialises in traditional British cuisine and the menu for the evening was aptly named ‘A taste of Britain.’ The turnout was fantastic and included brokers, analysts and other City advisers. It was a thoroughly enjoyable evening filled with good company, fine wine and delicious food, a big Thank you to Merchant Securities for inviting us along.

At the same time as the Merchant Securities Spring Party, four of the Abchaps headed to the Nabarro Corporate Associate Drinks at Beduin Bar in Central London for an informal and relaxed evening with the Nabarro team. It was a chance to meet some new faces and network with a range of financial advisers based in the City over a much deserved glass of wine.

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LSE Aim Conference 2011

2011-03-25T08:00:00.001Z

Mark Hoban MP and Marcus Stuttard, Head of AIM

The annual AIM conference, held at The London Stock Exchange, was an excellent opportunity for AIM-quoted companies to stay up to date on the latest developments and trends affecting the market, and to network with peers and key industry figures

This year Abchurch sponsored the event alongside PricewaterhouseCoopers, BlackRock and Religare Capital Markets and met a wide selection of AIM-quoted companies along with investors and members of the small cap community.

Raymond Greaves (Head of Research, Religare) kicked off his presentation by saying: “AIM is an excellent place to be as a growth company but…you must have a good story to tell and execute well and…you need good advisors.”

Our CEO Julian Bosdet guided the CEO and Finance Director delegates through Building Relationships To Attract Investors. The importance of a cohesive approach covering retails investors, Private Client Investment Managers (PCIMs) and institutional investors was picked up well by the audience. With institutions unlikely to take a position through buying from retail investors, PCIMs are a very effective way of packaging up shares currently in retail hands to sell on to larger buyers.

The conference kicked off with a welcome from David Snell, Partner at PwC, who also presented later in the day on ‘Securing AIM’s Future’. The welcome was followed by an introduction delivered by Xavier Rolet, the Chief Executive of the London Stock Exchange.

A keynote address delivered by Mark Hoban MP, Financial Secretary to the Treasury, praised the role AIM plays in supporting growing businesses and the UK economy. He said:

“Small and medium sized business enterprises play a vital role in our economy, providing both jobs and services throughout the UK and beyond. As a government, we are committed to supporting SME’s and have launched a range of initiatives including reform of EIS and VCT, funding for new Enterprise Zones and improving access to credit facilities for smaller companies. These and other projects are all designed to drive growth and innovation which will fuel the continued recovery of the UK economy.”

The afternoon session started with an AIM case study from Matthew Walls CEO of Epistem. This was a success story of AIM from the outset, with significant interest post-float, well-subscribed primary and secondary fund-raisings, and strong growth in share price despite the recent economic turmoil. Next to the stage was Madeleine Cordes of Capita Registrars discussing Corporate Governance for AIM Companies.

The day’s events were wrapped up with the final presentation provided by Ralph Cox, MD of the fund-manager BlackRock, where he went through the dos and don’ts when approaching fund managers; what he likes to see, and what will make him say “no thanks”.

These LSE events are always very educational and insightful for the audiences and it was brilliant to see a great turnout from AIM companies……we look forward to the next one!

Adam

King Pin 2011

2011-03-24T08:00:00.001Z

The Abchurch Team joined forces last night to take part in King Pin 2011, the 10 Pin Bowling tournament, organised by Roger Gregory of global full-service lawyers Dorsey &Whitney LLP. A total of six teams from a wide range of business backgrounds gathered together to take on the challenge and compete for the title of King Pin 2011.

The Abchurch team comprised of Julian, Mark, Tania, Claire, Oliver, Joanne, Simone, and Adam and a sterling effort was made by all. New Abchap Adam was by far the star of the Abchurch team with smooth moves on the bowling alley but it was most definitely a team effort. Within some fantastic moments of true sporting talent and the bad bowling displays providing classic entertainment for everyone involved.
The highlight of the evening was Team Abchurch finishing in the top three, although perhaps the greatest disappointment was that we lost out on second place (and therefore being entered into the final Champion’s play off) by just a single point!

The King Pin 2011 title was awarded to a team fielded by Evolution Securities who definitely deserved their title!

A huge thank you to Roger Gregory and to Dorsey and Whitney for organising the event and for inviting us along to take part. We’re looking forward to returning the favour and seeing some of the team at our next Future Faces party!

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PLC Awards 2011

2011-03-12T08:00:00.000Z

It’s that time of year again with the much anticipated PLC Awards at the Grosvenor House Hotel, and the 2011 Awards Dinner certainly lived up to expectations. Defined as “the” City event of the year it was attended by quoted companies, investment banks, fund managers, analysts and corporate advisors and Abchurch were there in the thick of it.

We hosted a table and our guests included our client Proventec, Analysts and Brokers from Brewin Dolphin, FinnCap, Collins Stewart and Seymour Pierce, law firm Pinsent Masons, BBC News Online and accountants Grant Thornton. The mix of guests and personalities meant the conversation was animated and interesting and went on until late into the evening.

The event was hosted by BBC TV presenter Kate Silverton who presented the awards, and was followed by Ronnie Corbett who provided much amusement! Many congratulations to all the winners on the night, who included The Rank Group plc, Volex Group plc (twice!), Mike Prentis, BlackRock, D S Smith plc, Renishaw plc, SuperGroup plc, Richard Harpin of Homeserve plc, and Domino Printing Sciences plc.

Thank you to all involved in organising another extremely successful and thoroughly enjoyable event; the 25th anniversary of the PLC Awards was certainly one to remember, and we are already looking forward to next year.

A view on: Life Sciences

2011-03-09T16:00:00.011Z

We are about to welcome a new Abchap into the fold. He is a Life Science specialist and will be joining Abchurch as a Director. So why are we strengthening our Life Sciences team when the sector has struggled for so long? His viewpoint is that Life sciences is coming out of hibernation; “the London and European markets have seen an increase in life sciences financings over recent months and there is also strong and deep venture financing available for the correct companies.” It is certainly true that there has been an increase in interesting medical device companies and small biotechs coming through our doors. The gap that big Pharma is creating by dismantling non-essential internal R&D capabilities is ready to be filled by innovative, nimble companies with unique and interesting products. These are the types of companies that we like to work with.

According to a report in today's Times, the UK has a thriving life sciences industry, with four out of the top six universities in the sector in the UK. 10% of global pharmaceutical spend is in Britain and our academics are second only to the US in publishing research in the field. While we are one of the smallest nations in the EU, two fifths of European biotechs are based here. This success, Ian King notes, is down to close collaboration between industry, academia, the health service and the Government. There is a nod to the City, which has provided finance for industry and encouraged academia to understand the value in its IP and commercialise it. In the past ten years alone, more than 200 companies have been successfully spun out of bioscience departments in the UK, generating revenues of over a billion pounds.

Recently a journalist asked one of our clients – a spin out itself – “why wouldn’t a Pharma company just buy you? It would be cheaper for them in the long run than licensing your products.” And our client replied quite simply that they would be swallowed up; the innovation, the ability to quickly pursue interesting projects, the speed at which R&D can take place in a small, focussed company, would simply be lost and the big companies recognise this. It’s a view that more than one client has expressed and makes it increasingly attractive for the giants to partner with smaller companies to take advantage of their agility. It’s attractive to the small companies too, giving them sales clout and the financial ability to continue to develop their products and technologies, both of which can be extremely costly.

With so much promise, it seems to me a little unfair that Life Sciences has had such a hard time in recent years. Healthcare is – technically – a defensive industry and with advances in the field – from drug discovery and development, to devices and analytical technology – moving as fast as they are, it seems that good communications in the sector are just what the doctor ordered.

Simone

Rosenblatt’s New Energy Awards 2011

2011-02-25T08:00:00.006Z

On the 24th February, Abchurch hosted a table at the New Energy Awards 2011 where Acta, an Abchurch client was nominated for the ‘Company of the Year’ award.

These days, the awards are THE place to be seen for the great and the good of the cleantech world with well over 700 people attending. About four years ago, they were held in a hotel with approximately 300 people. The ceremony is now held in the Natural History Museum, with tables based around the iconic skeleton of the Diplodocus.

However, the highlight of the evening was a talk by Henry Worsley who led the Matrix Shackleton Centenary Expedition to the South Pole last year. The images of the Southern Polar cap and changing landscapes bought home the important role the cleantech sector has in preserving places such as this. Henry showed fascinating pictures of the Shackleton expedition 100 years ago which included taking a car as well as horses along for the ride! The horses did prove useful of course, but the car did not last very long in sub zero degrees.

Unfortunately Acta did not win but there is always next year when I am sure the awards would have grown even larger, reflecting the increasing size and spread of the cleantech sector. The winners also gave a hint as to which technologies to keep an eye on over the coming year and they ranged from wave power to smart meters. The latter is a sure reality for everyone because the Government aims to have every home in the UK equipped with one by 2020.

For more information on the winners, please click on this link:

http://www.growthbusiness.co.uk/businessxl-events/rosenblatt-new-energy-awards-2011/2011-shortlist-and-winners/

Ashleigh

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IPREX: Global Leaders Conference – Miami

2011-02-08T08:00:00.001Z

Last month, Quincy and I traded London’s cold January drizzle for the glorious sunshine of Miami, which was rather fortunately the location of this year’s annual IPREX Global Leadership Conference.

IPREX is one of the world’s largest public relations networks with 68 partnering agencies, spanning across 30 countries and 90 offices. This year’s conference “PR 20:20—Envisioning and becoming agencies of the future,” gave us a great chance to meet our fellow American and Canadian IPREX partners to discuss together the issues affecting our practices and how we can work more closely together to confront these going forward. Specifically, one of the main issues we looked at was how the changing role of technology and new digital innovations affect PR professionals and how best to capitalise effectively on emerging online trends in social media.

As communications specialists working in an increasingly digitalised environment, evolving business models is critical. It is clear we need to incorporate and efficiently manage the rapidly changing channels of information and methods of building relationships. The conference therefore opened up some insightful discussions on how best to address these shifting dynamics by optimising our use of online multimedia platforms to deliver strong results for our clients and agencies themselves.

An interesting session, from a design perspective, was led by guest speaker Dave Bricker, the creative specialist and lecturer from Miami International University of Art and Design. Bricker gave us some extremely useful advice and illustrations on how to get the best from website design, where he believed “preparing to let your inhibitions down” was key in order to “think, feel and promote.” This session also led us to explore how, as partners of IPREX, we could best leverage the organisation to develop and extend relationships and those vital communication structures.

Listening to the comments of my peers made me see how the IPREX alliance is hugely important for its 68 independent member agencies because it gives us the flexibility to reach national and international markets, from small projects to major global programmes. Kathy Tunheim, the Worldwide President of IPREX summarises it well in her recent article “Connective Tissue for a ‘Glocal’ World”- with today’s more ‘glocal’ world, it’s important to balance the needs for both global and local perspectives. So in this sense IPREX acts as a powerful resource for helping partners to adapt and evolve elements of their communications strategy to meet changing industry demands where they can receive guidance on tactics, key audiences, delivery channels and the different cultures of new markets.

The sessions gave us plenty of food for thought as we brainstormed new ideas on how to build our organisations and keep abreast (or at least try!) of new digital applications. The forum meant we could listen to other professionals about their direct experiences and understand how they dealt with common sector issues as they explained the processes behind their accomplishments or what they learnt from past difficulties they faced. Also, since there was a selection of both financial and consumer-focused PRs there was a diverse range of approaches that different partners used to confront certain issues.

Of course, aside from our productive efforts during the daytime, we were also given a colourful flavour of Miami’s local cuisine by our kind and very informative host, David Stiefel, President of Great Communicators, who took us on a great tour of Coral Gables each evening.

It seems an age away now as I cast back to those few days in sunny Miami, enjoying the warm weather and munching on key lime pie! But overall I’d say it has left me with a far greater understanding of how important the strong connections of our IPREX network are for us here at Abchurch, not only in terms of the application of communication amongst international partners, but also quite simply, the event was a well-organised and structured chance to properly engage with other successful individuals, who more than certainly represent some of our future global PR leaders in the making!

A huge thank you to all those involved in organising such a worthwhile event.

Claire

Five-minute Abchat: Oli Hibberd, Abchurch

2010-10-25T08:00:00.004+01:00

As new Account Exec Oli Hibberd, @OHHPR, joins the Abchurch fold, we asked him how he came to be in PR and what he's expecting to see in the industry in the future.

What did you want to be when you grew up?

Not unusually, my first ambition was to be a footballer, and the fact that my team, Swindon, aren’t brilliant probably meant this vision was held for a little too long! At the age of thirteen I attended a school known for its hockey, which signified that my football career wasn’t to be.

Then, there were dreams of being in a successful band, especially when it became apparent that spending a lot of time in pubs and bars didn’t harm your chances! Lack of musical ability turned out to be the deal-breaker, so the band idea never really took off.

Finally the idea of being a professional seasonaire always appealed to the skier in me. However the reality, which sometimes meant attaching snow chains to a minibus at 6:45am in -15 ºC, caused me to drop that plan after a couple of seasons.

How did you get into Financial PR?

Having spent several years in the professional services PR sector, both in-house and in agency roles, I had an awareness of what was happening in the City but had never experienced working in the heart of it.

After taking a couple of months out, exploring the reality of spending my life on the slopes, I returned to a very different London than the City I’d left six months previously.

The pace at which companies and other organisations had adapted to an increasingly challenging market was very interesting, but I knew it was an environment where I’d really have to hit the ground running. The chance to build on my previous experience, whilst facing new challenges in a swiftly evolving environment was something I was extremely keen to take part in.

If I wasn’t talking to you now, what would you be doing?

Right now, I would be organising a call with a client in the banking sector, to plan the media strategy around an event the Company is holding in November.

What is the most interesting thing about your work?

The opportunity to work on a range of clients in a number of sectors prevents the work from ever getting routine. It is also interesting in understanding the reasoning behind why two contrasting companies can react so differently to what is initially perceived as a similar challenge.

Is there a common misconception about PR?

The most frustrating misconceptions stem from a misunderstanding of the profession. However the number of business scandals played out in, and escalated by the media has demanded a greater understanding of the role PR has to play.

How has the industry changed over the last couple of years?

The credit crunch led to huge consolidation and this is likely to continue. Companies are still cautious with spending and the frivolity of the pre-credit crunch era is now a distant memory. In order to survive, PR agencies have adapted their offering and now a greater level of flexibility is required from every employee.

The press is also very different industry now, publications are not only news services but businesses as well. The recent Times vs. Guardian online paywall debate is evidence that a commercial solution to ensure the viability of the press is still some way off.

What developments do you expect to see in the next twelve months?

As the new government continues to cut spending and introduce new policies, along with the fear of a double dip, most organisations are unlikely to make any radical changes unless absolutely necessary. However, the speed of the downturn surprised everyone, so with the pace of change still so swift it is difficult to bank on anything happening for sure.

Chancellor George Osborne’s Spending Review is old news

2010-10-21T10:50:00.000+01:00

It was inevitable that this morning’s headlines would be about the spending review. All of the national papers carried the story, from the Sun to the Financial Times. But if the papers haven’t moved the story on, what is the news value of old news this morning?

The Chancellor’s speech, outlining where his axe would fall (with considerable force), took place yesterday at 12.30. By 12.31, social media channels were buzzing with people live tweeting the speech and the BBC had live coverage preceding George Osborne even arriving at the Houses of Parliament. By 13.30, Labour was just about to retaliate and by the early afternoon, as the first copies of the Evening Standard hit the stands, London was awash with headlines despairing at the cuts this country will have to endure.

Last week, we attended a webinar where David M Scott, a well-known social media speaker, was discussing the importance of real-time responses to news issues. The advent of online publishing and social media has not only given the public a voice, but it has made news immediate. For up to the minute – and even up to the second – developments, web publishing has changed the way we consume and react to media. This idea is not new and of course stories on the spending review were run online yesterday, within minutes of Mr Osborne concluding his speech.

Today’s papers had to cover the story, that is not in questions, but almost 24 hours after the story broke there must be more originality and opinion in the national press for it to be fresh and valuable. The Financial Times’s Lex column on the subject is a great example of this.

But seeing this morning’s front page headlines, about a news story our team was discussing over lunch yesterday – with little additional thought or analysis – seems to me, a stark example of how newspapers are becoming out of date before they are even printed.

Simone

FSA rules strain relations between City and press

2010-10-15T14:40:00.000+01:00

As the Financial Services Authority (FSA) continues to clamp down on strategic leaks to the media, and journalists lash back at the new proposals, new debates are sparked over the impact these transaction reporting plans could have on market integrity and the overall flow of accurate business information.

A dramatic increase in FSA activity to clamp down on controlling leaks follows recent findings which showed suspicious trades before takeover announcements were not only up on the previous year, but now account for nearly a third of all deals. The FSA’s Market Division has recently issued its “best practice” recommendations, which aim to prevent improper disclosures of inside information contrary to the market abuse regime. Yet, the second recommendation, stating all media enquiries are to be directed to the firm’s media relations team, who will be fully responsible for monitoring all media enquiries, has been met with strong criticism from UK journalists.

This week, editors of four leading national papers wrote a letter of complaint to the FSA to publicly expose their concerns over the potential damage such restrictions could bring to current media handling practices between City firms and journalists.

For the FSA, “Strategic leaks – designed to be advantageous to a party to a transaction – are particularly damaging to market confidence and do not serve shareholders’ or investors’ wider interests.” However, while accepting the need act strongly to deter market abuse, the editors claim “a wilful misunderstanding” in the relationship between the City and the press will be brought about as firms hide behind their media relations personnel, thereby making it easier to distort the flow of reliable information.

Unfortunately, rumours and speculation will invariably affect share prices and damage company profiles. Yet, the online media and the fast pace of our digital environment have changed how information is now conveyed and received. Today, journalists have an extended role to ensure they convey their messages not only to national readers but more increasingly to global audiences in an increasingly timely fashion.

In essence, corporate communication relies on a strong relationship between journalists and the finance market and the recent stir serves to highlight how more constructive engagement and close collaboration between the press and financial regulators will be important to counter future cases of market abuse. We will watch this space!

Click here to read the letter sent by Lionel Barber, Editor, The Financial Times; Alan Rusbridger, Editor-in-Chief, Guardian News & Media; David Schlesinger, Editor-in-Chief, Thomson Reuters and James Harding, Editor, The Times.

Claire

How to stand out: a very clever PR CV

2010-10-01T11:57:00.000+01:00

This is one of the most innovative and interesting CV's I've ever come across. PR Week has a good blog post about the video - how fast PR is moving and how important it is to keep your skills up to date. In an industry as competitive as ours, this is a brilliant way to get noticed. Hats off to Graeme.

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Industrials and Extractive Industries party

2010-09-29T11:51:00.000+01:00

Last night Abchurch held the third in a series of sector specific parties.

The evening’s focus on Industrials and Extractive industries followed the success of our Green event and Financial Services gathering earlier this year. The turnout was excellent and our guests ranged from big hitters in media and law to clients, corporate finance, analysts and brokers. The Rt Hon David Mellor gave an excellent keynote speech nodding to Labour’s new leader and how the UK economy is in for a tough ride over the next couple of years, although his turn of phrase and brilliant sense of humour left our guests with a smile. Thanks to all those who came along last night, it provided good networking opportunities and was lots of fun. We’ve already started planning the next one!

Follow us on Twitter @AbchurchComms. If any of our guests are tweeters, we’d love to hear your thoughts on last night’s event. Please tag your tweets #Abchurchparty.

Five-minute Abchat: Claire Dickinson, Abchurch

2010-08-02T08:00:00.003+01:00

Abchurch has been on the lookout for some new Account Execs and this month, Claire Dickinson who joined as an intern with us over the summer, has become the latest Abchick! We welcome Claire to the Abchurch fold and asked her for a quick Abchat…

What did you want to be when you grew up?

I always thought I would make a good explorer, probably helped by the fact I grew up in a forest and spent most of my childhood setting up camps or finding good trees to climb. Other than that, I was definitely the pacifist figure amongst friends and secretly thought I could put my diplomatic skills to great use if I became a hostage negotiator or perhaps UN Secretary General!

If I wasn’t talking to you now, what would you be doing?

I’d be finishing some update reports and later I intend to make some calls with analysts about client results.

What is the most interesting thing about your work?

It would have to be the range of projects and people who we build relationships with, combined with the different media we work through which make every day extremely varied and challenging – it’s really a very rewarding environment to be a part of!

Is there a common misconception about PR?

I think there are numerous misconceptions about PR! In my view, these often stem from those less familiar with the industry or who underestimate the growing need for PR as economies and societies continue to integrate within such a fiercely competitive global setting.

How has the industry changed in recent years?

The industry has adapted itself tremendously over the last five years. This is mainly a result of shifting economic, technological and political landscapes, which have created a progressively more complex space that is increasingly dependent on good communication, constructive engagement, dialogue and transparency.

What developments do you expect to see in the next twelve months?

Unfortunately in the UK we face a tough year ahead of us with slow growth, higher taxes and stagnant living standards. Yet, while we may be facing dramatic spending cuts and a tough government restructuring programme that stands to affect all industries for many years to come, I don’t believe its all doom and gloom! What’s important is to remember there are still a number of companies doing well and who continue to record strong growth.

In terms of PR, what is essential for the industry is that it remains adaptable and continues to find new unique ways of handling news and restoring the current loss of trust felt towards many financial institutions, companies and individuals. But the delivery of clear and consistent messages along fast-paced digitalised networks is no easy task. This is a huge challenge for PR practitioners who must establish ways to cope with the quantity of communication needed to stretch to new audiences. In this respect I anticipate some exciting new developments in social media and PR 2.0, which has already transformed the industry substantially over the last few years and will continue to do so well into the future. So I would say we are in an exciting transitional period for the industry!

Vulcans and Veyrons - Abchurch visits the Goodwood Festival of Speed

2010-07-06T08:00:00.003+01:00

Sunday saw Abchurch on site at the motoring event of the year, enjoying the exquisite delights of some of the world’s finest machines. Goodwood Festival of Speed 2010 was a sell out and it was no wonder given the wondrous array of sights, sounds, smells and motoring legends on the line up combined with unusually balmy and consistent British summer weather. Where else can you see a shiny chrome Bugatti Veyron, a newly flight certified Vulcan and Lewis Hamilton doing doughnuts in his 2008 Formula 1 car?

Yet, at the heart the cacophony of V12’s, W16’s and spitfire engines stood the peace and calm of the FoS-TECH pavilion, rather ironically in association with BP Ultimate, showcasing sustainable cars and technologies of the future from major car manufacturers such as Lexus, Audi and Honda. Stifled yelps were common as the public scrambled out of the way of silently approaching vehicles slinking their way through the drifting crowd. Amongst the exhibitors was Abchurch client and clean energy products company, Acta S.p.A, which exhibited its hydrogen fuel enrichment technology as well as its award winning electrolyser to the general public for the first time in the UK. The British reception did not disappoint, with both manufacturers and the general public alike demonstrating profound interest in sustainable technologies.

As this Abchick soaked up the last rays of the day while munching happily on scones with clotted cream and the final hours of the Festival of Speed 2010 came to a close we were treated to an ostentatious display of bravery and stupidity in equal measure with a crowd-pleasing motorcyclist displaying more stunts than James Bond on the roof of Goodwood House. A truly spectacular day and bring on Revival.

Hannah

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Online readers about to set the news agenda

2010-07-05T15:44:00.000+01:00

Traditionally, the news agenda has been the domain of editors who decided what was interesting and journalists were sent forth to write, but rumour has it that Yahoo! is soon to turn this process on its head with the announcement of a new blog whose content will be determined by the topics users search for on the web.

While blogging and tweeting have given the public a voice, the improvements in search and the rise in content sharing mean that in addition to an overwhelming amount of information available in general, there is increasing data to indicate what, amongst the billions of column inches, readers actually care about.

Yahoo!’s new blog, Upshot, will track popular search terms and topics across its online network and use these patterns to fuel content, generated by its team of journalists and editors. If it works, the blog should be more closely aligned with its readers’ interests than other mainstream news sites.

Using search queries to guide content also means that the blog will potentially feature more niche and unusual stories in response to its readers’ demands. The editorial team will need to make careful decisions about how closely they will be influenced by the trends and journalists will need to write with a degree of authority to pacify sceptics who see this as a potential quantity over quality play, biasing news simply to reach the top of search engines.

Media is certainly changing at the moment with broad news stories widely available from innumerable outlets. Several UK papers have started to put up paywalls but for this to be an effective move, generalist online news sites will have to think about what exactly they can offer readers to beat off the competition – it’s hard to justify paying for me-too content.

Whether the Yahoo!’s search information will be used to directly influence the news agenda or simply as a tool to understand readers and aid editorial decisions, content that takes into account what the reader is looking for could certainly be a good start in setting itself apart from the masses.

Simone

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Five-minute Abchat: Nick Probert, Abchurch

2010-05-19T08:00:00.022+01:00

Following the insightful pre-election special from David Beamer, our own Nick Probert: Account Manager, IR expert, photographic muse and skier extraordinaire steps up to have a little Abchat and explain what he does when he's not busy hitting the slopes.

What did you want to be when you grew up?

I still haven’t grown up and I still don’t know what I want to be! Growing up in Texas, you’d expect for me to say that I wanted to be a cowboy, an oil man or maybe a baseball player. From a young age, I always wanted to be a professional football player – despite living so far from the UK, my heroes were Gary Lineker and Gazza (not such a role model these days, however!). Following the football fever, I really wanted to open a shop and be my own boss, something I managed to achieve not long after I finished university.

How did you get into financial PR?

At the previous company I worked for, we made introductions to intermediaries on behalf of our clients – in doing so, I met Abchurch. I found PR interesting and had seen the success it had brought to many of my then clients. I was interested to learn more and it wasn’t long before I was being interviewed. The rest, as they say, is history.

If I wasn’t talking to you now, what would you be doing?

Right now, I am putting timetables together and arranging media and analyst meetings for clients – I have three sets of Results coming up! If I wasn’t in the office, I would probably be enjoying this nice weather.

What is the most interesting thing about your work?

Probably three things: the diverse range of clients we look after, the opportunity to speak with and often offer advice to Chief Executives of companies, and that every day is different from the last.

Is there a common misconception about PR?

Of course – some people believe that PR doesn’t achieve anything. This is certainly the case if the job isn’t done well. But, a well planned and well organised PR strategy can be incredibly valuable to a company.

How has the industry changed over the last couple of years?

Like most industries, the PR firms have had to develop to remain efficient in the downturn because businesses perceive marketing and PR as an easy budget cut without reducing expectations. This means PR teams are working harder, often on lower budgets, but with higher client expectations. This, of course, has become more of a challenge as publications have cut staff and journalists have to be more selective about what they write. Abchurch has offered a more diverse service offering as well as developing other programmes, such as our Private Client Investment Manager offering.

What developments do you expect to see in the next twelve months?

I expect the environment to remain challenging and for there still be a high level of competitiveness for new business. Hopefully, we can expect to see companies continue to loosen their PR budgets and as well as seeing a return of IPOs in the market.

Five-minute Abchat: David Beamer, PoliticsDirect

2010-05-04T09:52:00.002+01:00

This month Abchurch cornered fellow IPREX member David Beamer MCIPR, the Managing Director of PoliticsDirect an independent, full service Public Affairs agency. Prior to entering Consultancy, David was a senior political adviser to the Conservative Party and worked with 8 Secretaries of State on a range of policy briefs including Trade & Industry, Energy, Transport, Culture, Media & Sport, Deregulation, Wales, and Health.

David is regarded as a leading authority, and has written articles & delivered speeches, on the use of the Internet in British politics and public affairs consultancy. He has taken a few moments to talk to us about life in Westminster.

What did you want to be when you grew up?

From a very early age, I was interested in setting up a company but didn’t know what in. After completing a Business degree at University, I started working for the Conservative Research Department (CRD) in London and learnt about the public affairs industry.

How did you get into Public Affairs?

After the General Election in 1997, I left CRD and joined the political division of The Communication Group. It’s common that people entering public affairs have worked as a political adviser.

Describe your role in ten words or less (if that’s possible!):

I run a public affairs agency and provide strategic counsel to clients.

If I wasn’t talking to you now, what would you be doing?

Catching up on the latest election developments. The TV debates have changed the normal course of an election campaign and caused significant fluctuations in the opinion polls that no commentator had predicted.

What is the most interesting thing about your work?

I enjoy the worlds of business and politics. Bringing the two together makes work challenging, provides lots of variety and brings you into contact with some very talented people.

Is there a common misconception about Public Affairs?

The industry can get negative press coverage. However, the industry is very professional and our agency, together with the overwhelming majority of agencies in our industry, are members of the Association of Professional Political Consultants and adhere to a strict code of conduct.

How has the industry changed over the last couple of years?

There has been growing recognition from companies about the importance of undertaking public affairs work and gaining a greater understanding of the political process. The industry has grown accordingly and become more professional.

What developments do you expect to see in the next twelve months?

A new Government will stimulate interest in political developments and there will be new policies and new ministers. Companies will need to understand how these policies affect them and who to engage with.

More information on PoliticsDirect can be found at www.politicsdirect.com

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2010 – The return of the IPO?

2010-04-08T12:08:00.000+01:00

Asia leads the way with the RoW on its coat tails

Abchurch MD, Henry H-T draws together some encouraging signs for the global IPO market

According to a report recently issued by Ernst & Young, the global IPO market has begun to show signs of recovery which will come as a relief to most financial intermediaries around the world. In the first quarter of this year there have already been 267 successful IPOs raising a total of US$53 billion, this figure dwarfing the comparative period in 2009 in which there were only 52 IPOs raising a paltry US$1.5 billion. It will come as no great surprise that the return of the IPO in Asia - China in particular - is leading the way, having raised a total of US$19 billion via 109 IPOs, accounting for 41% of all global IPO activity. In the last 24 hours, the Agricultural Bank of China has reported that it preparing for a float looking to raise a staggering US$25 billion which would make it the largest share offering ever, exceeding even the IPO of China’s ICBC which raised US$21 billion back in 2006 when the markets were much more buoyant.

So how has London fared in all of this activity? Well, not too badly when compared against the rest of Europe. London has raised a respectable US$2 billion via 11 IPOs in the period, with companies including Barrick Gold, CPP, Super Group and Promethean successfully joining the market. From a fairly lifeless IPO market in Europe during 2009, there have been 39 floats in the first quarter raising US$8 billion (the largest number since the second quarter of 2008), and this activity has outstripped the US which managed to raise only US$4.2 billion via 25 IPOs.

Whilst there remain some concerns about volatile market conditions at the start of the year, it is widely anticipated that investors will continue to return to the European and North American markets as the global economy improves which will be good news for all of us here in the City. With plenty of activity planned, many corporates and issuers are waiting for the right window of opportunity to complete their listings and to generate the best valuation. Let’s hope the strong start to global IPOs in 2010 continues and starts to filter into London post the General Election.

Henry

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Five-minute Abchat: Florence Fox-Andrews, Abchurch Intern

2010-04-06T10:00:00.001+01:00

This week we grilled our latest Abchurch Intern, Bristol University student Florence Fox-Andrews, on the Intern program, what she enjoyed and any words of wisdom she has for prospective applicants.

What did you want to be when you grew up?

When I was younger I was absolutely obsessed with the Famous Five and all of Enid Blyton’s books. I loved reading and watching murder mysteries, especially Midsomer Murders. When I grew up my dream was to become a detective and solve crimes, I think probably quite strange for a 9-10 year old!

Why did you apply to be an intern at Abchurch?

I had the opportunity to apply for some work experience at Abchurch and jumped at the chance. I wanted to experience working in the City first hand and Abchurch has allowed me to gain an insight into the workings of Financial PR and City life.

Describe your role in ten words or less (if that’s possible!):

I have been doing some administration work, sitting in on meetings between clients and analysts, and been annoying everyone with questions! I didn’t have to make any coffee while I was here – which is lucky, my coffee making is pretty poor!

If I wasn’t talking to you now, what would you be doing?

I would be researching new investor and trade magazines and inputting information such as feature deadlines, when it goes to press, notes on circulation etc. onto an Excel Spreadsheet for the Company’s records.

What is the most interesting thing about the program?

I find the diversity of all the different clients fascinating and I have gained an understanding of the role Financial PR plays in the development of growing companies, whether private or listed, and the important relationships forged with media and analysts which are crucial to communicate key messages.

Did you have any ideas about PR that you found weren’t (or were) true?

There is the rumour that PR companies exist to manipulate and fabricate stories. Having never experienced PR before, I assumed this was true. However, after working with Abchurch and experiencing the day-to-day work, I can now understand and appreciate how communicating a clear and consistent message is vital in the role of Financial PR.

What advice would you give to someone who wants to be an Intern at Abchurch?

My advice would be that - as well as an interest in the media and PR - you have to be ambitious and confident. As long as you are friendly, enthusiastic and energetic and willing to put in time and effort, you will be certain to achieve the results you wish.

For more information and an application form for our Internships, please contact recruitment@abchurch-group.com

Worried about sustainability? Get a Brazilian

2010-04-06T09:50:00.001+01:00

Given the ongoing debate over the sustainability of biofuels, I was keen to hear for myself the story that is the Brazilian ethanol economy. Hence, Abchapess finds herself at the “Brazilian Cleantech Breakfast” on the 11th March in Rosenblatt’s offices mulling over how to both communicate and eat a bowl cereal while holding a cup of coffee, a handful of business cards as well as managing the usual female trappings of handbag and coat in a room the size of a two man tent containing a not inconsiderable number of overly familiar Brazilians and excited greenies. Despite the general melee, the crowd finally managed to squeeze itself into the limited chairs to the clutter of breaking plates and falling cutlery at which point the speakers had their opportunity to sell the class-leading benefits of the renewable energy market in Brazil.

For those who aren’t aware of the powerhouse that Brazil is in the alternative fuel world here are a few facts. The first car to ever run on ethanol was produced in Brazil in 1979 having been experimenting with the liquid since the 1930’s. This legacy has resulted in Brazil now consuming more ethanol than petrol. Moreover, around 45% of all energy produced in Brazil comes from renewable sources. Unsurprisingly, a number of entrepreneurs, small companies and multinational corporations have been jumping onto the Brazilian bandwagon over the last few years.

The Energy Revolution

Paolo Wrobel, of the Brazilian embassy, kicked off the proceedings by setting the scene for the energy revolution that is happening in Brazil. Huge revenues of oil and gas have been discovered off the coast of Brazil, in particular natural gas. This relatively clean and abundant resource allows for a number of opportunities for British companies to provide anything from services to machinery. On their biofuels strategy, the market has been boosted by the Environmental Protection Agency classifying ethanol from sugarcane, an area in which Brazil is world leader, as an “exceptional fuel”. This is due to the complete avoidance of “food vs fuel” and the fact that nothing is wasted. The leftover bagasse is used to produce electricity which powers the plant, even providing excess electricity for the grid. Most importantly sugarcane from ethanol is easily scalable and competes very favourably in financial terms with fossil fuels. A no-brainer it seems.

Up to the Challenge?

The final word at the Breakfast was left to Olivier Mace Head of Biofuel Strategy and Regulatory Affairs at BP. As a global fossil fuel giant, BP’s commitment to dedicating time and money to renewable energy has been impressive. They see two big challenges facing them: energy security (we will double our primary energy requirements by 2050) and climate change. Nothing new there. He discussed four criteria for biofuels which would allow them to compete with traditional fossil fuels in transport; cost, low carbon, sustainability and scalability. If biofuels could beat other types of fuels, including fossil fuels, in all four categories, it would be one of the only viable options for mass market use; the other of course being electric vehicles. His personal opinion (obviously) was that the most economically sensible option would be the combination of energy efficient internal combustion engines with the use of low carbon fuels. Working to that belief, BP Biofuels invested in Brazil’s sugarcane ethanol market in 2008 through acquiring 50% of an integrated facility, consisting of an ethanol production factory on a sugar cane estate. Brazil has attracted a number of other international investors similar to BP in the recent years, including Shell which has recently announced its intention to tap into a market which was once dominated by wealthy local families.

The conclusion that can be drawn from this may seem surprising. First generation biofuels may actually negate the need for second generation biofuels in much of the world. In fact many methods are well established, hence low-risk technologies, non-competitive with food crops and applicable on an industrial scale. We have to bear in mind however, that sadly the British climate and environment is not comparable to Brazil’s. We are in fact 35 times smaller and considerably wetter meaning the requirement to invest in second generation methods such as using municipal waste as a feedstock is crucial if we are to secure our own ongoing fuel supply.

Hannah

Photo courtesy of ozjimbob on Flickr, through a Creative Commons License

Five-minute Abchat: Simon Leathers, Daniel Stewart

2010-03-29T08:00:00.003+01:00

This month, Abchurch spoke to Simon Leathers, a Director at investment bank Daniel Stewart & Company who challenges perceptions that Corporate Finance is a glamourous world of high-power deals and sharp suits.

What did you want to be when you grew up?
I’ve always wanted to do something in the City although I had no real idea what everyone did! I guess at some level I wanted to be the father figure in Mary Poppins!

How did you get into Corporate Finance?
After my ACA with PwC I moved into TMT corporate finance for four years, before moving to Evolution Beeson Gregory. Three and half years later I moved to Daniel Stewart and have now been here for just over two years.

Describe your role in ten words or less (if that’s possible!):
Advisory service provided where transaction/project management meets business and public market regulatory advice.

If I wasn’t talking to you now, what would you be doing?
I would be reviewing a draft circular.

What is the most interesting thing about your work?
The variety – no two situations or deals are ever the same and whilst the basic tools at your disposal remain the same you are always learning new ways to apply them.

Is there a common misconception about Corporate Finance?
Yes – the public perception is that we spend our time in a rather glamorous world full of short sharp negotiations with high powered deal makers – sadly this is very rarely the case and the vast majority of our work is detailed, time consuming and slow to unfold.

How has the industry changed over the last couple of years?
Corporate Finance is particularly prone to well documented market investment cycles – over the past few years the junior public markets have been hit particularly hard as these always represented the riskier end of the equity markets.

What developments do you expect to see in the next twelve months?
As market stability returns so too will investor appetite for risk and reward – fiscal policy will be a key driver and so I expect the market participants to be keen observers of the general election.

You can find out more about Daniel Stewart's Corporate Finance services here.

Follow Abchurch on Twitter @AbchurchComms

base 2010 (business and sustainable environment)

2010-03-22T12:57:00.001Z

base 2010, the event where business meets sustainability, was held in the Excel centre on 16-17 March this year. The run up promotion to the event, which promised a plethora of prominent speakers, seemed too good to be true however the final turn out did not disappoint. Few conferences have managed to gather together such an influential list, with attendees from the government, NGO’s, advisory bodies, the FTSE 100 and leading national media. In fact, it often seemed, perhaps due to the size of the venue, that there were even more renowned figures present than delegates themselves.

Green-off

Given the event’s proximity to the national elections, the Q&A sessions and keynotes were dominated by MP’s and government advisers, not wanting to miss a key opportunity to plug their respective “red-green” and “blue-green” agendas and relevant party’s commitment to the cause. The resulting outcome of the successive speeches by Rt. Hon. Hilary Benn MP (Secretary of State for the Environment, Food and Rural Affairs) and Nick Herbert MP (Shadow Secretary) was strangely cohesive, which both parties pointing out the importance of sustainability on the corporate and social agenda after the financial turmoil of the last two years. Both speakers chose to focus much of their content on the issues of waste and landfill, highlighting the fact that waste is an opportunity, not a cost and stating their aims to make landfill sites obsolete. Benn pointed to the successes of the Landfill directive in encouraging new technologies which are highlighting the upside down way in which we talk about waste. Herbert couldn’t resist having a dig at the Labour Government’s lack of ambition when it comes to setting poignant targets, in particular for landfill tax, but while he agreed that business certainly needs a fiscal and regulatory strategy which would allow them to plan ahead, we must be careful to recognise that the overall regulatory burden on companies is too high.

There were a couple of surprises to this green-off, however, with Benn acknowledging the difficult environment for innovative high-risk technologies to attract investment and asking the conference “how can the government help with this problem?” Given that he carried on talking I can only assume that this was a rhetorical question, however, he demonstrated awareness of a key issue holding back the supposedly burgeoning cleantech world and perhaps even willingness for the government to consider a solution. Herbert, although less impressive and perhaps less rounded as a key political figure, also made some good points, stating that “natural resources are no more finite than the fiscal resources of the Treasury” and that the UK “makes a mistake of seeing the sustainability agenda as a burden.” Further to this he pointed out a solid sustainability strategy would actually help to uncover inefficiencies in our businesses as well as our economy as a whole, allowing continuing growth without long term commitment to the path of consumerism that we have trodden for so many years.

Carrot or Stick?
The key differences in messages really showed when discussing regulation. The Labour party remains committed to forcing sustainability on business through establishing a fiscal and regulatory regime which will punish avoiders. The Tory mentality was far more interested in working the carrot approach, relying on societal buy-in, which would essentially amount to a smarter form of procurement, encouraging community empowerment and private sector investment in new technologies, hence reducing the cost to the public sector and investing and encouraging through non-regulatory means. Micro-management or macro-management? Ensuring sustainability rather than encouraging sustainability? The vote is yours!

“We must work together”

Another highlight of the event was the Q&A session with Rt. Hon. Ed Miliband MP, Secretary of State for Energy and Climate Change. In his brief address before the grilling started, he attempted to salvage Copenhagen’s reputation, labelling the conference as a big step forward involving 80% of the worlds emissions producers, compared to Kyoto’s 45%. The importance of an attitudinal change was crucial to his agenda, encouraging people to talk about opportunities arising rather than dangers to be avoided and removing climate-change from the environmental box, instead making it about opportunity. As the world leader in the generation of offshore wind (since overtaking Denmark), the UK, Miliband promised, is in a great position to take advantage of this transition. “We must work together” he enthused about the public-private partnership. Kate Silverton, who appears to be enjoying a whole host of extra-curricular events, encouraged questions from the crowd which flew with the speed and kindness of machine gun fire. Topics covered included the lack of ambition with regards to the Feed-in Tariff, the skills shortage to embrace this new transition, the damage done by Climategate, Miliband’s thoughts on carbon offsetting (positive FYI), the controversial fairytale adverts on TV, party coalition on green issues (nuclear energy seemingly being the elephant) and what can be done to reconcile the demands of climate change with the short-termism requirements and attitude of the City. All credit due, Miliband handled the questions impressively, never breaking sweat or coming unstuck. Although, it has to be said he moved exceptionally quickly towards the exit at the conclusion.

The timetable of the event was so crammed with goodies, that planning was essential and sadly many, no doubt, highly informative lectures and discussions were impossible to attend. I did, however, attend one other top hit; Question Time with Peter Madden, chief executive of Forum for the Future, Philip Green, CEO of United Utilities, Richard Reid, the London Chairman of KPMG and Professor William Pope, representing England’s RDAs. This impressive panel commented on the relationship between sustainability and economic development, producing some interesting insights before answering questions on Britain’s broken society, institutional investment mindset and how the big companies were reconciling sustainable strategy with corporate strategy.

For me, the most interesting theme of the event was the challenge of aligning shareholder and stakeholder interests. It has been known for CEO’s to be sacked for not having their shareholder’s best interests in mind following the announcement of a new CSR strategy. This links in with the short-termism of the City and the never-failing requirement for rapid growth and immediate prosperity. Society has not kept up with the rapid growth of the last decades and adjustment is required. The financial markets have abruptly and painfully adjusted themselves, however social change is moving more slowly. Too slowly. Sustainability does not have to be about dying polar bears and palm trees in Scotland; it can be about opportunity and putting in place a foundation for a new and reliable future. If we do not move quickly we will miss out on the wave of opportunities rising. Those who lag behind do so at their own peril, whichever political party ends up in the driving seat.

Hannah

PLC Awards 2010

2010-03-12T10:30:00.001Z

The PLC Awards 2010 defied the economic downturn with a glittering demonstration of City success stories. It was attended by over a thousand high-flying CEOs, investment bankers, fund managers, City advisors and of course, the finest of London’s financial PRs – including several Abchaps – who gathered in the Great Room of the fantastic Grosvenor Hotel on Park Lane on the evening of the 11th March.

The three course meal and flowing wine created a tough environment for the awards presenter, news reader Kate Silverton, who gallantly attempted – albeit with limited success! – to maintain control over the upbeat crowd. Britvic, Weatherspoon and Mothercare were amongst the prestigious winners of the evening and the joviality, boosted by the unstoppable one-liners from comedian Milton Jones, continued into the early hours of the morning as the gathering progressed to the bar.

Abchurch hosted a table and was joined by clients and journalists as well as a sterling group of financial services representatives including analysts & financiers. In particular, we were pleased to have the BBC’s Business Reporter Joe Lynam (@jblynam) on our table – we hope he found it more of a success than his recent conversation with Lloyds’ Eric Daniels! The conversation flowed more freely than the wine throughout the evening though it did mean that memories were blurred by the next morning!

Thank you to the excellent organisers and guests and we look forward to seeing you at the awards next year!

Hannah

Follow us on Twitter @AbchurchComms

Five-minute Abchat: Quincy Allan, Abchurch

2010-03-01T08:00:00.003Z

Abchurch's newest Account Executive, Quincy Allan (complete with alice band and affirmations that Quincy is indeed his real name) is the first of the Abchaps to shed a little more light on the world of financial PR...

What did you want to be when you grew up?

I was always used in an avocatory capacity during my younger years to help settle disputes between friends. Coupled with the fact that my Mum is a lawyer I guess I was pigeonholed into becoming a barrister. I threw a spanner in the works when I decided geology was more my thing, less reading…

How did you get into financial PR?

I had interned at Abchurch about 18 months ago, just after a move back from Singapore where I had been working for an oil and gas consultancy. Up until then I had little idea about the function of Financial PR in the City, and how my oil and gas background could be applied to the industry. I loved my time at Abchurch, learnt a lot, and enjoyed working with a great team. When the chance to join permanently arose, I jumped at the chance.

Describe your role in ten words or less (if that’s possible!):

As an Account Executive, I am responsible for…. Not possible.

If I wasn’t talking to you now, what would you be doing?

I have a couple of update reports I need to finish and send out to clients, as well as a few pitches that need my magic touch.

What is the most interesting thing about your work?

Variety – I get to deal with a wide array of people and businesses everyday, from journalists to fund managers and Chief Executives to sell side analysts. But I especially like listening to smaller, really innovative companies that want to make it in the big time. Makes me feel like a baby “dragon” when they explain their companies and big ideas to us.

Is there a common misconception about PR?

Myth: PR Professionals make up news or distort the truth

Fact: PR Professionals communicate useful, factual news to a targeted audience

Companies that distort the truth will find it difficult to regain public trust once they are “outed”, and their bottom lines can suffer. When working with the media, PR practitioners promote story angles that provide a benefit to their clients’ target markets and the news audience. PR professionals are trained to identify newsworthy opportunities for different types of media outlets and news formats.

How has the industry changed over the last couple of years?

The industry is getting more up to date. With major advancements in social media, blogging, and companies more than ever trying their hands at “tweeting”, it has created a whole new scope for a company to reach its target audience. PRs are experts at managing organisations' reputations, and now more importantly, communication between an organisation and its public. Social media should not just be seen as 'a few tweets' because a damaging message can spread virally in minutes and could potentially undermine all key messages. PRs should now be looking at building a rapport with the public, as we are moving towards a culture where it is the individual who has the sway.

What developments do you expect to see in the next twelve months?

Structural changes in the media, and the challenges of Generation Y - who increasingly run their lives via the internet - and cost pressures that will force publishers and broadcasters to accelerate their online plans. It is here where organisations of all types are crying out for skills and advice from PR agencies.

Abchurch leads the environmental charge!

2010-02-24T16:00:00.000Z

The Abchaps were delighted that our first sector event in our new offices, on the theme of the environmental economy, was a roaring success.

Aided by English bubbles and locally-sourced canapés, the evening saw a sprinkle of invaluable insights, a dose of breaking news, the birth of strategic partnerships and a large measure of general joviality.

Abchurch’s 85 guests, from cleantech companies, media, regulatory, NGO and city advisory backgrounds, arrived from 6pm and immediately began making the most of the high-level networking opportunities available. After supplying the crowd with top-quality British food and drink, Julian Bosdet, the CEO of Abchurch Communications, opened the event with a welcoming message and introduced the high profile speakers to the gathering.

Jock Whittlesey, Environment Counselor to the U.S. Embassy, kicked off the session with his thought-provoking comments on the role of the US in promoting the clean technology cause and the strength and continuing importance of the “special relationship”.

The baton was picked up by Stephen Hammond, the Shadow Transport Minister and Wimbledon MP, who spoke about the Conservative belief in the crucial importance of public transport in helping the UK to lead the environmental revolution. He also highlighted Tory ambitions to facilitate the progression of technology in the UK.

Following on from these influential figures, Claire Dorrian of the London Stock Exchange aptly pointed out that she was in fact returning to her old office! Her invaluable insights both reflected on the impact of the Obama regime and looked forward to what the future may hold in the UK, including the importance of fiscal incentives for companies to reduce their environmental impact.

Tamsin Omond, of Climate Rush, completed the speeches with an impassioned plea for everyone to work together towards finding solutions.After requesting everyone’s business cards, she broke the news to the gathering that she would be running as a Member of Parliament this year. You heard it here first! Tamsin has subsequently revealed the mystery constituency as Hampstead & Kilburn, which she will transform into an “eco-haven”!

Abchurch continues to promote the clean technology revolution by bringing people and business together. The green team at Abchurch would like to thank all who attended and hope that you all gained something from the evening, even if it was a growing appreciation for fine English wines!

Hannah

Five-minute Abchat: Allan Dunlavy, Schillings

2010-02-22T08:00:00.004Z

In the first of a regular series, Allan Dunlavy, Associate at Schillings, the leading law firm protecting the reputations of high-profile individuals, corporates and brands, talks to Abchurch about life on the legal side of reputation management.

What did you want to be when you grew up?

Well, obviously there were the usual childhood and teenage fantasies of playing professional sport but these quickly faded as my lack of talent became apparent! If I wasn't practising law and I hadn't just won the lottery, then I think I would have liked to have been an archaeologist. I have always enjoyed history and you get to see remote corners of the world, excavate long forgotten sites and use your brain.

How did you get into reputation management law?

I have always wanted to be a lawyer and always had an interest in media law. At my previous firm I received a few instructions, got some good results and really enjoyed the work. I decided to pursue my career in this area and chose to join Schillings because of its expertise and reputation in the area of defamation and privacy law.

Describe your role in ten words or less (if that’s possible!):

Wow, that’s a challenge for a lawyer! I will try and keep it brief! I assist clients, both corporate organisations and private individuals, to protect their reputations and private information when they come under threat from external forces such as the media or non-media sources such as those with an axe to grind, malicious insiders and business or political rivals.

So, if I wasn’t talking to you now, what would you be doing?

I would probably be taking instructions from a client in regards to a soon-to-be-published newspaper article likely breach their confidentiality or privacy, and then liaising with the client’s PR team and the newspaper’s legal department to prevent publication. Failing that, I would be running to court to obtain an injunction preventing publication on the basis that the article would breach our client’s confidentiality / privacy and would not be in the public interest.

What is the most interesting thing about your work?

Schillings has an enviable client list including some of the worlds highest profile businesses and entrepreneurs and, on the other side, high profile sports, music and entertainment personalities. The work that the Firm and I do for them varies enormously and is often international in nature incorporating the laws of several different jurisdictions simultaneously.

Is there a common misconception about the reputation management?

The first misconception is the word ‘management’ – I prefer to call it reputation protection as the work we do complements that of PRs. We work with PR as an extension of their team to provide the client with legal tools. Second, is the idea that reputation protection is about restricting freedom of speech. No doubt all of us, regardless of our professions, believe freedom of expression is a basic tenet for any democracy. However, it is essential that this is counter-balanced with a company’s and an individual’s right to a reputation and an expectation of privacy; which is also crucial. Without reputations how can people decide who to vote for, at which school to educate their children, which companies to purchase products from, or who to work for? Every day we rely upon the reputations of people and organisations to make good, informed decisions and therefore it is essential that commentary affecting this is fair and accurate. At Schillings we play a vital role in providing access to such fair and accurate commentary.

How has the industry changed over the last couple of years?

It has become much more International with the explosion of the Internet and social media. This has made it possible for anyone, anywhere to become a ‘publisher’ and has increased the volume of media sources exponentially, thus the threats not only come from a greater volume of sources but also from all over the world.

Countering this is the increased protection available for a company's confidential information and an individual's privacy. This has come about through case law, which Schillings has been pivotal in establishing, and as the result of European legislation. Information of this nature is now better protected and we have the tools to ensure that private and confidential information that should not be in the public domain remains confidential.

What developments do you expect to see in the next twelve months?

It’s an interesting and exciting time. The Firm is currently involved in the Government’s Department for Culture, Media and Sport select committee enquiry into “Press Standards, Privacy and Libel” concerning the self-regulation of the media, and we are part of the Ministry of Justice’s 2010 Working Group on Libel reforms. This area of law is constantly moving and as such it receives intense scrutiny from the media, not least because they are directly affected by it. It is unclear what the outcome will be but the Law will no doubt continue to adapt to deal with changes that arise.

Whilst it is important to permit publication of matters that are genuinely in the public interest, too often reputations are damaged, and privacy invaded, by the publication of stories that are untrue, or where the main aim is to satisfy salacious curiosity about the lives of the rich or famous irrespective of the distress caused to them, their families, and their friends. The aims of existing laws are sound, but in practice, they frequently fail to achieve a satisfactory balance between the public interest and truth and privacy. As a result, public figures, such as CEOs, may be unable to prevent themselves being defamed, or suffering invasions of privacy which are essentially unlawful. Schillings believe there are opportunities to continue to help clients protect their privacy and reputations without compromising the vital principle of freedom of expression and we have developed a ‘Blueprint for Change’ paper outlining three key changes as a way forward.

For more information about Schillings, please visit http://www.schillings.co.uk/. You can also download selected publications from Schillings here.

Follow Abchurch on Twitter @AbchurchComms

IPREX Global Leaders Conference - Norway

2010-02-15T09:00:00.000Z

Monique and I headed to Norway for the IPREX Global Leaders Conference with great expectations – for starters we would be staying in the same hotel where a certain Barack Obama and his First Missus stayed when he accepted his Nobel Peace Prize at the end of last year. We were also looking forward to our first Scandinavian (and possibly most northern) experience. But, what we were most looking forward to was meeting and working with our international IPREX partners on a range of topics from social media and communications innovations to brand awareness and reputation management. It was also great to relax into dinner in the evenings, often continuing our discussions from the day – and of course raising a glass (skål!!) to our amazingly well organised and kind hosts, Consilio. We heard some very insightful presentations from Claus Sonberg (SASs’ Executive Vice President of Corporate Communications and Investor Relations) and Peggy Brønn (Professor and author on the subject of reputation management) before breaking into groups to brainstorm 3 top ideas, their strategic importance in our industry and their potential impact on IPREX partner firms. Monique and I were happy to leave the well-run and thought provoking conference with our expectations fulfilled – Kathy Tunheim, IPREX President, summed up our progress in an email to the IPREX Executive Committee saying, “I can say without any hesitation that I was IMPRESSED by the caliber of the colleagues in Oslo, and I have every expectation that they can and will contribute to our collective success moving forward.”

Oh, and before the ink was dry on our mass brainstorming documents, we were off to the outskirts of Oslo for some tobogganing – and tobogganing in Norway is no joke. A 2km-long death defying run (ask Monique for the full details!) topped off a great weekend and even allowed us for a little more fresh air.

For those of you who don’t know we are a member of IPREX, one of the world’s largest public relations corporations, which is made up of leading, independent PR agencies in major markets worldwide. Its purpose is to offer public relations excellence to clients, wherever their businesses take them.

IPREX represents 68 independent agencies, in 30 countries, with 90 offices. We have over 1,170 professional staff and annual billings of over $125 million. Founded in 1983, IPREX has expanded internationally to meet the needs of its clients and partners. Partners are carefully screened before their application to join is considered.

Nick

Eastern promise

2010-02-04T12:23:00.001Z

The Hong Kong stock market has fared well during the downturn compared to its Western counterparts, having come down by only 13% in 2009 from the previous year. This is compared with an average drop of 51% in the LSE during the same period, according to the Executive Vice President of the Hong Kong Exchanges & Clearing, the securities and futures exchange.

Hong Kong is a key international fundraising platform in Asia, and it has tightened its listing rules to ensure the quality of the companies coming onto the market. In fact, the HK rules are more onerous than UK listing rules in all instances.

Abchurch has extensive experience of this market, having carried out the financial communications surround the dual listing of its client RCG on the Hong Kong Stock Exchange, which was featured as one of the case studies at the Forum.

Tsangaroo

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2010: A return to optimism on AIM

2010-01-22T15:30:00.002Z

After a year in the doldrums, confidence is set to return to AIM in 2010, so says “AIM in Review 2010”, an annual survey put together by Growth Company Investor magazine. Several Abchaps attended the survey’s launch event, and came back feeling even more confident about this year.

The report interviewed CEOs, private investors, fund managers, and brokers and nomads. It has uncovered a tremendous amount of optimism, and notes that AIM is attractive for its ability to raise funds for SMEs and entrepreneurs.

Amongst the CEOs surveyed, 85% believe AIM will make gains during 2010, and 82% trust that they will be able to raise funds if they need to. Amongst retail investors survey, 67% expect further gains for AIM this year, and 76% believe AIM companies offer good value.

At Abchurch we have strong faith in AIM and London’s quoted market. Since our inception in 2004, we have advised on 67 successful IPOs. Indeed, in recent months we have started to see an increase in activity and potential deal flow – which is all around good news for the City.

Follow us on Twitter @AbchurchComms

A saucy campaign

2010-01-21T11:44:00.001Z

As we move through winter and the bitter cold begins to recede, so begins the season for countries across the globe to up their PR efforts to entice consumers as they start thinking about summer holidays. But TV commercials and posters (Ar-oooh-ba?) showing pristine beaches and unique sights may no longer be enough to capture the imagination of the public and tourism boards need to start thinking outside the suitcase.

The ‘Best job in the world’ campaign (won by Brit Ben Southall) put the relatively unknown Hamilton Island in Australia firmly on the map in May last year when they offered an intrepid traveller the job of Caretaker in return for a bit of blogging. It was excellent publicity but, with our new client China Food Company now on board and a rapidly dwindling stock of pistachios in the kitchen, our minds have turned to snacking. How appropriate then, to discover that Italy is getting in on the publicity act with its own campaign against bad Bolognese.

The signature Italian dish is a firm favourite in homes, schools and restaurants everywhere, but chefs from the Eden Hotel in Rome are on a mission to bring it back to its roots. For a start, did you know Bolognese shouldn’t even be served with spaghetti? Featured on the BBC, tourists were asked what should go into spag bol (which should really be renamed tag bol) but none of them managed to get it right – who would have guessed it should contain a glass of milk? Perhaps a jaunt to Italy for a cookery course or simply to sample the national dish cooked in the traditional way is the answer? Although ostensibly independent from the Italian Tourist Board, no doubt the chefs from the Eden Hotel will be thanked for this obscure little piece of pasta publicity.

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All I want for 2010: A view from an expert

2009-12-31T18:00:00.001Z

Re-published with kind permission from AimZine

AIM is ending a tough year on a higher note, but it remains a challenging environment for investors and advisers. 2009 has been an evolutionary year. The ‘fittest’ AIM companies have survived in a year that saw over 250 companies leave the market. As 2009 draws to a close, it is heartening to see that the rate of those leaving the market appears to be slowing.

For advisers, the most coveted present under the financial Christmas tree remains the IPO. They were frustratingly elusive in 2009, which from a capital raising perspective, was dominated by secondary placings and rights issues. But the broader investment and advisory markets must be buoyed by the recent Gartmore and Better Capital IPOs. The simple concept that investors are now ready to invest in fund management and turnaround businesses is itself a meaningful statement and we hope a signs of things to come. All we want for 2010 is for this sentiment to continue permeating throughout the markets.

Toppers

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Crisis Comms: Winning back Tiger's stripes

2009-12-17T17:25:00.001Z

What would I do if I was Tiger's PR? Like a tiger - he needs to lie low. Tigers prowl subtly and with success and this one has been exposed in broad daylight. He has made a fool of himself, arguably ruined his marriage and from a commercial perspective his brand has been badly damaged. With key sponsors leaving him quicker than his well hit Nike ball off the tee, he needs to think and plan a ‘long game’.

What would I advise Tiger do to win back his stripes?

1. Tiger should speak to no one for 12 months (though sadly this will not include his wife’s lawyers). Whatever he says will sound contrived and just get bulldozed now.

2. Play no golf for 12 months

3. Regain the sporting respect - return to golf in 2011 and win the US and British opens, proving he is the best golfer in the world

4. Give one interview to Vanity Fair magazine which has the biggest audience in the world (though the man in me is tempted to say Playboy)

5. Watch the sponsors roll back in

Simple

CJ

Follow us on Twitter @AbchurchComms

Murdoch’s Mexican stand off

2009-12-15T11:55:00.006Z

A couple of weeks ago, the Financial Times reported that Rupert Murdoch wanted to shut Google out of his news sites, and people sat up and took notice. Murdoch decided that he would rather exclusively allow Microsoft’s Bing search engine to search his publications like the Times and WSJ. He could lose about 25% of his traffic but snap up a payment from Microsoft in the process, which is busily trying to buy Bing a place in the search market.

This is big news for journalism and if others follow suit (News Corp is certainly rallying the troops) it could change the way that we use the internet to gather information. If Bing became the only, or even best place to find quality reporting, it could for the first time be a real threat to Google’s stronghold. But what interested me is the fact that this story was reported in TechCrunch blog two weeks before; it just took coverage in the Financial Times for people to start paying attention.

TechCrunch is one of the most respected technology blogs on the net, and if nothing else, Robert Peston has shown the power of blogging over the past year so it is disappointing that the story wasn’t picked up earlier. Perhaps we still have a way to go before the power of the blogosphere can compete with mainstream media.

Simone

Follow us on Twitter @AbchurchComms

Abchurch is sky high!

2009-12-10T16:42:00.012Z

The Abchaps are pleased to announce we have moved into new offices at 125 Old Broad Street!

Nick and I had our cameras to hand to record the momentous occasion.

We've already started to enjoy the panoramic views of London from our unique 16th floor 'Skybar' which is the perfect setting for a spot of lunch or afternoon tea.
We also have possibly the coolest reception chairs in London. See Nick below, um, literally shooting the lights out:

With (purple) flooring made from sustainable rubber, Boydie (chief Ab-mover?!) has aimed to make the office environmentally friendly, making the most of natural light and sustainable materials. This has kept our green team happy!

We've also had a photoshoot which has provided some funky shots for our new website which will be online in a few short days. In the meantime, enjoy the view!

Simone

Word of the week: Freedom of Speech

2009-10-23T17:20:00.002+01:00

The BNP were granted a spot on Question Time this week, in the face of protests and outrage from the public despite the fact that the BBC have a “responsibility of due impartiality” to allow the party airtime because of its Euro vote.

As the issue has escalated, publicity for the BNP is on the up. But with an increase in BNP popularity allegedly causing spikes in racial attacks, where is the line between freedom of speech and giving the BNP a sense of legitimacy? Opinions were starkly divided and while many did not agree that the party should be given a platform to voice their policies, if the BBC, as an impartial media outlet, begins to censor political stories it could have important repercussions for future political reporting and public trust in the BBC itself. Surely it is not the BBC’s place to tell the public what political views it should and shouldn’t listen to? And this certainly provided a forum for the public to openly challenge the party on its policies. And challenge, the public did with Mr Griffin providing weak and outrageous arguments in his defense. What the papers do agree on today, is that the appearance did not do the BNP any great favours and the vast majority of educated, open minded members of the British public are enraged by Mr Griffin’s words.

The key risk, however, comes if people with no particular affiliation to any political party and who do not consider themselves racist, hear the BNP’s arguments and find themselves agreeing with some of their other policies. If this starts to happen, giving the BNP a voice in the media could be very dangerous indeed.

Simone

Taking AIM

2009-10-16T16:30:00.001+01:00

The AIM Awards was held at Billingsgate market – undoubtedly an evening not to be missed with the main movers and shakers from an exchange that has kept us all well dressed and well fed for many years.

Jo and I put together a table that kept clients, Brulines, zamano and RCG very happy while speaking with experts from analyst and corporate finance communities. Jo went over and above the call of duty by donning black tie and greeting the guests as they arrived.

Abchurch had three short listed potential winners and, although none made the final cut, they were among strong company:

Best Performing Share
Futuragene – up 691%!

Best Communication Award
May Gurney Integrated Services plc

Best Use of AIM
Vertu Motors plc

Best Technology
Immupharma plc

AIM Transaction of the Year
ToLuna plc

Achievement in Sustainability
Modern Water plc

Best Research Award
Edison Investment Research

International Company of the Year
Asian Citrus Holdings Ltd

Best Newcomer Awards
Max Property Group

Entrepreneur of the Year
Chris Havemann, ResearchNow

Company of the Year
Abcam

The Winner of a Lifetime Achievement Award went to Peter Ashworth, head of Research at Charles Stanley.

Very thoughtful thank you’s flooded the Abchurch inboxes the next day. All in all, the AIM Awards in their Old Billingsgate venue reflects the market of the past – the difference is we now trade equity not fish.

Heather

Follow us on Twitter @AbchurchComms

CNB Seen

2009-10-13T16:05:00.002+01:00

Today, Simone and I attended the ever-popular CIPR Speakers Lunch with guest Geoff Cutmore. Geoff is anchor of CNBC Europe and presenter of Squawk Box Europe, a programme that has yielded good coverage for a number of Abchurch’s clients. Geoff gave an interesting overview of how business news is a booming industry and particularly digital against the decline in print advertising. He then went on to describe CNBC, whose digital offering was launched in 2006, as a ‘three-legged stool’ with a leg each in the financial hubs of London, Singapore and New York.

CNBC Europe starts at 5am and the channel has had over 3,000 CEO’s and market commentators on it with around 3.3m viewers per week. The channel is most interested in speaking with listed companies but Geoff acknowledged that they have a great deal of airtime to fill and so are always interested in hearing from any company with a strong story or angle. The one overriding piece of advice he gave when preparing clients to appear on the channel was to ensure that they understand why they were coming on to speak in the first place and the wider importance of the role their company plays in the sector and issue being discussed.

Mark

Follow us on Twitter @AbchurchComms

Word of the Week: Social Small Talk

2009-10-09T10:45:00.006+01:00

This week I spotted a great example of City folk getting in on the social media scene. Alistair Dawber reported in his Small Talk investment column on Monday on Imaginatik, an AIM listed tech company whose software allows organisations to connect with their staff to collect & analyse cost saving ideas. Dawber was questioning why, after announcing a big contract win, the client was not named, even though other big brands, including Coca-Cola and Xerox are acknowledged as clients. Social media, rather than being all about twitter or Facebook, is about starting and maintaining a conversation, which CEO Mark Turrell was quick to realise. Spotting the news story moments after it was published, thanks to Google Alerts; he was able to immediately respond to Alistair’s questions in the Comments section of the article online. Whether ICIS, Imaginatik’s financial tech-specialist PR firm, had anything to do with encouraging their client to interact in this way is unclear, but I suspect that actually the idea of starting conversations and building relationships is rooted deep within the nature of Imaginatik itself. If clients are nervous about tweeting or don’t know Wordpress from a wiki, perhaps a simple online response to journalists could be the first baby steps into Social Media in the City.

Simone

Tweet-up: IPREX Portland

2009-10-09T10:38:00.003+01:00

Since the Abchaps chose to give the the Portland IPREX meeting a miss, here’s what the IPREX partners were reporting on Twitter:

RossSullivan: #social_media - biggest shared hurdle by #IPREX firms is explaining ROI to clients. We will share are best solutions in days ahead. 4 days ago from mobile web

renzistone33: SM is best implemented thru SM audits, overall planning, tactic execution, monitoring and workshops/training. #IPREX now, wine... 4 days ago from UberTwitter

nettresults: Great intro to newsrooms by @codella at #IPREX conference and why every company needs one 4 days ago from web

codella: Thanks #IPREX for using the NewsCactus online newsroom - gr8 2 be w/ u today 4 days ago from TwitterBerry

DeborahatUlum: Google is your new "daddy" online. Love the online newsroom, thx @codella for coming to #IPREX! 4 days ago from TweetDeck
renzistone33: PR needs big, aligned ideas in changed economy. Good debate about differences in PR v. Advertising (or lack thereof). #IPREX 4 days ago from TweetDeck

renzistone33: Millenials want openness, recognition, responsibility, training, balance & opinions implemented. #IPREX 4 days ago from UberTwitter

nettresults: Ad agencies engage in a monologue - PR agencies engage a dialogue... interesting thoughts from #IPREX 4 days ago from web

codella: gr8 discussion about millennials at #iprex - an entitled, narcissistic generation - going to learn some hard lessons 4 days ago from TweetDeck

codella: Listening to org behavior expert John Barry of Positive Eye Consultancy at IPREX conf in Portland 4 days ago from TwitterBerry

vollmerpr: In Portland for IPREX mtg w/30 other top PR firms. Pinot Noir, good friends & great minds! 5 days ago from Tweetie

RossSullivan: Upbeat mood at #IPREX Portland meeting despite member firms experiencing revenue drops. #social_media depts are all the buzz. More Friday. 5 days ago from mobile web

If you want to keep up with all the latest IPREX happenings, visit http://twitter.com/ and search for #IPREX. Those in the Twitterati can also follow @IPREX http://twitter.com/IPREX_PR.

E&Y Entrepreneur of the Year Awards

2009-10-07T16:15:00.001+01:00

Last night I attended the Ernst & Young Entrepreneur of the Year Awards as a guest of E&Y. The Hilton was populated on Tuesday night with private equity companies and entrepreneurs running high-growth businesses typically backed by venture capital or private equity.

And the winners were...

Retail & Consumer Products
Sportswift Limited, a retailer of greetings cards and related products, trading as Card Factory

IT Services
Achilles Group, risk monitoring company

Business Services
Healthcare Locums, health and social care staffing company

Science & Technology
PayPoint, cash and internet payments company

Social entrepreneur
Steve Howard, Climate Change Organisation (launched in 2004 with 20 CEOs, Tony Blair and half the UK cabinet)

Media, Entertainment and Communications
Betfair, the world’s largest betting community and the pioneer of the betting exchange model

Master Entrepreneur
Michael Spencer, ICAP, the world’s leading interdealer broker and provider of post trade services to the wholesale financial markets

Young Entrepreneur
Arnab Nasu, Durham Scientific Crystals Limited

Support Services
Senergy Holdings, helps clients find technical and process solutions which enable the development of oil, gas and alternative energy projects

Consumer Services
Dr JD Hull Associates, the largest provider of private specialist dental care in the UK

Overall winner progressing to Monte Carlo for International Entrepreneur of the Year Awards 2010 is Michael Spencer, ICAP. I am already angling for an invitation!

I gained much insight into the workings of the entrepreneur’s minds with the common denominators being
- the ability to make things happen
- being persistent

In this difficult economic climate, it is clear that the surviving companies are those with solid market drivers and those that are cutting costs and investing in growth.

The evening was made especially fun with Master of Ceremonies Joanna Lumley who relayed her own entrepreneurial story with her hard-won, historic victory on behalf of the Gurkhas. Alluding to this success, David Mellor, while presenting one of the awards, said: “Why should Boris be the only blond bombshell in Whitehall….”

Heather

Follow us on Twitter @AbchurchComms

Abchurch on the move!

2009-09-07T10:11:00.004+01:00

The Abchaps are excited to announce that in November 2009, we will be moving into swanky new offices at 125 Old Broad Street. In the meantime, Abchurch’s London office will temporarily be located at 41 Lothbury, London EC2R 7HG.

41 Lothbury is located in the heart of the City of London, 2 minute’s walk from Bank station and less than 5 minute’s walk from Liverpool Street station. It is also less than a minute’s walk from Abchurch’s soon-to-be new home on Old Broad Street.

The move was nothing if not exciting:

Marky Mark, Alex and Boz assembling the computer in our meeting area

Munch and Steve manage to escape the chaos for a moment

Jackie B ponders where to put all the files

The leopard is a long way from the zoo

Jo looks like she did something she probably shouldn't have done

Steph gets involved in some heavy lifting...

While Sir Alan takes a break!

Um, does anyone have a pen?!

Au revoir 100 Cannon Street!

And it's business as normal at 41 Lothbury.

Heather's IPREX Diary: Google

2009-06-01T10:27:00.000+01:00

We all traipsed onto the IPREX bus for a blind tour of NY to Lower Manhattan and we got out at a decrepit old factory - the old Nabisco warehouse. With no signage whatsoever, we ascended strong metal train track staircase to the vanguard of multimedia – Google. Once we entered this mysterious company, we toured the chalk boards, scooters, graffiti art and even a slide! It was a tour of mixed feelings. Did work actually happen here? Did we think they were too cool for school? Does the lackadaisical attitude spurn productivity? It didn't look much like the Abchurch office and most of us seethed with bitter jealousy!!

The presentations enlightened us to the vast variety of tools available to us with Google – tools that help PRs do Peer Group analysis and measurement and evaluation and some of which we use at Abchurch already. The ethos depends on the wisdom of crowds driving innovation. Many studies were used to exemplify the power of Google. Like Bloomberg, there is a distinct ethos at Google which all employees like and adopt.

Heather

Word of the week: £££ Sterling

2009-05-29T17:08:00.001+01:00

The hammered British Pound has caught a gust of air and is on the up reaching the value of $1.60 for the first time in over 6 months. Investors have been prompted to move away from the defensive US dollar once again, with growing optimism that the contraction in the UK economy is certainly slowing if not reversing. Growth is inhibited however by concerns over UK national debt, the prospect of higher taxes for years to come and a growing national penury - worsened by an indifference to saving given the recent unpredictability of financial institutions as a whole. Stabilisation may have arrived with recovery still a few bumps away.

Jack

Heather's IPREX Diary: The Expert's view

2009-05-29T10:33:00.000+01:00

A panel discussion at the University Club followed Bloomberg, with some of the most eminent Directors of Communications in the world, facing enormous challenges.

Harvey Greisman, Group Executive, Worldwide Communications of Mastercard was in the toughest boat since only last week President Obama called the CEOs and senior executives of all credit card companies to the White House. He had received an unprecedented number of letters from the US public complaining about the high level of credit card debt and the perseverance of all of them to push high rates onto sub prime people. Harvey’s advice was that “good corporate governance is a top driver in restoring trust among the public and reputation management is something all PRs should do”. He has a long way to go in restoring this trust.

Raymond Kerins VP of Worldwide Communications of Pfizer explained that the pharma industry spent too much time reacting and independent agencies should help in-house PR be more proactive. He added that operating in this heavily regulated industry meant they do need to be careful about using Twitter and other social media. They do however heavily utilise the likes of SERMO online – industry e-mags. His key messages were that they are now a $50 billion start up with new management, new focus, products that sell, with stability and cash. Strong points and well put.

With regards the use of social media, Barbara Pierce, Worldwide Comms Director of Kodak utilised social media to maximum effect when the Wall Street Journal print version put out misguided numbers. Perhaps more effective with a consumer brand, Barbara negated the WSJ comments effectively through Twitter, Facebook and YouTube.

Other speakers included General Electric, Swiss Re, Viacom and Bausch & Lomb. The panel overseer was the illustrious Jon Byrne, editor-in-chief of Business Week. I admire him most as co-author of Jack Welsh’s book: Jack: Straight from the Gut. He acknowledged that all the speakers’ companies have had an extremely tough ride in the down turn and that there is a propensity for journalists to focus on bad news. Restoring trust was paramount. There is a definitive need to educate the markets and he quoted that reputation management is the sum of the images. The images consist of Performance, Behaviour and Communication.

The Head of Comms from NYU sponsored this panel and wrapped up by quoting Abraham Lincoln: “Character is the Key; Reputation is the shadow.”

My own observation of in-house PR directors is they have to be self deprecating, bold when it matters and incredibly savvy.

Heather

Image courtesy of Matt Hamm on Flickr, through a Creative Commons License.

The Low Carbon Economy

2009-05-28T10:30:00.000+01:00

Abchurch has one of the UK’s leading environmental practices and views the carbon market primarily in terms of its effect on investor confidence.

The world is on the edge of what US and EU Political advisor Jeremy Rifkin has dubbed ‘The Third Industrial Revolution’. This is a world in which we move away from traditional fossil fuel and uranium-based energies into a non-polluting, sustainable future for the human race.

In this new age investors are concerned not just with the impact that traditional commodities, such as oil, grain and minerals, have on a company’s profitability but also with factors such as the cost of carbon, sulphur dioxide, water and even holes in the ground. Indeed, Britain is widely expected to be routinely mining its landfill sites within the next decade to recover many of these valuable commodities whilst minimizing the energy usage and harmful emissions associated with extracting them from primary sources.

The investment agenda is no longer one solely of balance sheets and cashflow statements, however. Climate change concerns have fuelled the rise of Corporate & Social Responsibility in high streets and boardrooms across the world. This Triple Bottom Line approach to company reporting (financial, social and environmental) demands simple shorthands and metrics and there is none more convenient than ‘carbon equivalent.’ Hence the “low carbon economy.”

Research carried out in late 2008 amongst UK based fund managers for British Energy found that:
· 80% think that a carbon reduction strategy can have a positive impact on investor perceptions
· 2 in 5 believe that commitment to carbon reduction can have a positive impact on share price
· 25% see a growing media and public demand for carbon reduction commitment at the corporate level

The Carbon Trust’s March 2009 report ‘Global Carbon Mechanisms: Emerging lessons and implications’ reveals:
· The Clean Development Mechanism, specifically, has triggered over 4000 emission-reducing projects in developing countries
· It is likely to reduce carbon emissions by 2 billion tonnes by 2012

Climate Change Capital, just one of thousands of specialist environmental funds globally, has:
· over US $1.5 billion under management as of January 2009
· estimated that Clean energy (just one subset of the climate change market) was worth $148 billion in 2007
· predicted that current climate change needs require a future investment in clean energy of up to $45 trillion

No revolution is without its hazards, however. Indeed, many would argue that the focus on ‘low carbon’ has become an unhealthy obsession, with the same whiff of snake oil, get rich quick and too good to be truisms witnessed in the energy and silicon rushes of the first and second industrial revolutions. Hence the concept of “greenwash.”

One of Abchurch’s most important roles is to steer companies through this new communications landscape; taking carbon credit where it is due and avoiding tempting, but often meaningless hype. This experienced counsel, based on our team’s genuine earth science credentials, is just as true whether working with our intrinsically environmental clients, or with our broader customer base of companies who are simply playing their responsible part is a newly carbon-conscious world.

Justin

Image courtesy of Olof S on Flickr, through a Creative Commons License.

Heather's IPREX Diary: Bloomberg

2009-05-28T10:17:00.005+01:00

This was my first experience at a Global IPREX conference and it was fantastic to meet the others. All exude high professionalism, proactivity and fun which resulted in a vibrant three days in New York.

Hosted by Makovsky, we took in the great sights of Bloomberg. The photograph depicts a wall of silhouettes, people with the same round heads and different clothes and stances. We are told by the guide that this represents the indoctrinated culture of Bloomberg, while each person retains their own individuality. During the tour of this phenomenal and highly lucrative private business, every corner showcased art, whether it was a cumulus cloud hanging from the ceiling or a spiral sofa or ornate fish tanks separating meeting rooms. It was a feast for the corporate eyes and what was most telling was the employees’ vast enthusiasm for the Group and the ease with which each person adopted the strict but innovative culture.

Serious discussion got under way with the three most senior editors and business management at Bloomberg. The main message was Speed and, internally, to know who is reachable and who is doing what. They receive a staggering 5,000 stories a day and it could be the Asian desk, the UK desk or the US desk picking up a story at any one time. Instead of focusing on geographic importance, the place is split into sectors and you could get a response from the tech guy in Asia as easily as the tech person in US. Social media was a big discussion with Bloomberg insisting it IS a social media. The trend means that things are not so much “off the record”, more “hope no one blogs this”!

Bloomberg customers are among the wealthiest and most prominent in the world ensuring that Bloomberg delivers real time news that moves markets.

Heather

Word of the week: Playing FTSE

2009-05-08T17:54:00.004+01:00

The FTSE 100 is fast approaching the 4500 mark after a strong rally over the past week. However the staunch ascent has lost its puff in the latter half of this week without a significant stimulus to counter the cautious optimism that has swept equity markets upwards. The increasing length and breadth of the rally across all sectors and several countries is increasing confidence that we are experiencing something more than a short bear market rally. However the bullish confidence of old is far from being restored and the seemingly unwarranted wobbles demonstrate a continued tentativeness from investors.

Jack

New York New York

2009-05-06T09:30:00.000+01:00

Bozzy and I are getting ready for IPREX's global conference in New York City. Abchurch are regulars at these conferences, which bring together our network of like-minded PR partners from all over the world. This year's theme is "Multinational Issues in a Multimedia World." We'll be discussing social media at Google, the economic crisis at Bloomberg, and how global companies are handling the toughest PR issues at New York University.

Always keeping an eye on green issues, we are looking forward to the kick off dinner with a discussion on PR opportunities surrounding climate change, featuring Andrew McKeon, Principal of carbonRational, a consulting firm which provides corporations with the tools for building sustainable enterprises.

The main event is a panel discussion starring eight heads of Corporate Communications at Top Fortune 500 global companies including GE, Pfizer and MasterCard. We will be asking how the global economic crisis is changing the way the world's biggest corporations communicate with their stakeholders. What do they see as major global communications issues now and in the future?

Most excitingly, the lovely team at Makovsky have organised one of the top Google Exec’s to talk about how Web 2.0 is changing the way we communicate across the globe. The talk will be followed by a tour of Googleplex East, the search giant’s NY HQ, complete with air hockey, pool tables, quizzically named ‘Google Snacks’ and giant exercise balls rolling across the office. What were we supposed to be discussing again…?

Heather

In the morning you know they won't remember a thing...

2009-05-01T14:56:00.007+01:00

Speaking of Lance Armstrong, did you know he’s competing in this year’s Drambuie Pursuit? He is a member of one team in only five chosen to go on an all expenses paid “adventure of epic proportions” in the wilds of the Scottish highlands. Not to be outdone, CJ’s only got himself a spot as well!

Part of Team Escape to Matrimony, CJ with a few of his City chums starred in and edited this fabulous video that was chosen by the public out of 40 other entries. The Grooms-to-be have won an adrenaline junkie’s dream, pushing themselves to the limit across a series of tough activities which include mountain biking, power boat racing, rock climbing, white-water rafting and more, all in preparation for the challenges of married life that lie ahead.

Abchurch wish them all the best of luck – they’re going to need it!

DJ Twitter

2009-05-01T10:14:00.005+01:00

The Dow Jones Newswires' UK smallcap team now has a Twitter feed, featuring daily news from UK small and mid cap companies, proving that it isn’t just international superstar celebs like the Abchurch team (and of course Stephen Fry, Wossy, Ashton Kutcher) who recognise the value of Twitter, the latter being the first person to attract 1m followers in a race against news channel CNN.

Journalists of all shapes, sizes, sectors and sources are jumping on the bandwagon to tweet their 140 (character) cents. From the Guardian, often known to be leaders on the media front, giving a continuous flow of international and regional news, to Lance Armstrong who is back in the saddle attempting to win a record 8th Tour de France, it seems there is no limit to the Twitterati, anyone can join its ranks these days.

But how could Twitter be going in the wrong direction? CNN has joined the debate arguing that with all the hype about Swine Flu, perhaps Twitter might be spreading misinformation and propagating fear. Those in the know could check out a reliable source like The Centers for Disease Control and Prevention Twitter feed for Swine Flu updates and I think as long as you’re not using Twitter for self diagnosis, whether you are letting people know that you are “just leaving work, need a drink!” or raising a question, “will the FTSE ever see 5,000 again?!”, Twitter is for everyone. Tweet on!

For those less in the know (and who haven’t read up on the Abchat blog), Twitter is a free social networking and micro-blogging service that enables its users to send and read other users' updates known as ‘tweets’. Check out http://www.twitter.com/ to get started. Don’t forget to follow those of us at Abchurch, and just so you don’t get caught out, here is the Telegraph’s list of the top ten worst tweets.

@Chamonick

Word of the week: Swine

2009-05-01T09:36:00.003+01:00

When the global economy develops a cold the population and its pigs catch flu…doesn’t quite sound right. But that’s what’s happening and its sending certain stocks back down the pan. Holiday companies, hotel chains and airlines such as British Airways and easyJet are tumbling in the wake of the crisis. Not surprisingly flu vaccine manufacturer’s such as global Pharma company GlaxoSmithKline are among the top risers in the market. This week has definitely been a reminder of the inevitable uncertainty for any investor. As Chris Hossain, senior sales manager at Abchurch client ODL Securities, put it "World markets need a shot in the arm and talk of a global pandemic is a huge concern to the economy." Someone keeps mixing up the needles.

Jack

Growing Respect at the Growth Company Investor Awards

2009-04-28T10:05:00.003+01:00

Abchurch was out in force as Bozzy, Justin and Charlie headed off to see the great and the good of AIM receive their annual gongs at the Vitesse adviser awards. Abchurch was nominated - thanks to all who voted for us! It turned out that event sponsor Redleaf won it. Rather than eating sour grapes(and consoled by the fact that it’s only two years since we won the award)the Abchurch team congratulated Redleaf, munched yummy nibbles and caught up with houses including Hanson Westhouse, Seymour Pierce, K&L Gates, Evolution, Mazars, Baker Tilly. Whilst we are aware that Financial PR is occasionally deemed further down the food chain than other City adviser roles, it was PR’s who had the last laugh on the night because in terms of usefulness, pleasingly we came second only to Lawyers. Smug grins all-round.

Word of the Week: Darling’s rickety bridge

2009-04-24T09:34:00.001+01:00

Alistair Darling, Chancellor of the Exchequer, delivered his second UK budget statement on Wednesday. With an unenviable task, Darling’s efforts have caused a reaction of outrage given his perceived over-optimism. The government’s forecasts of 1.25% economic growth in 2010 and 3.5% in 2011 compare with consensus forecasts of 0.3% and 1.9% respectively. The FT has called the budget a ‘short and rickety bridge over a deep chasm’ whilst leader of the opposition David Cameron has branded the growth forecasts less of a U-turn and more of an economic ‘trampoline’. There seems to be little approval of Darling’s plans as he has bowed to pressure to increase tax only on high earners as a political tactic ahead of next year’s general election. Darling has done little to comfort fears over the level of national debt (68% of GDP next year) which is at its highest in any peacetime era. The government has continued discretionary spending against the advice of the Bank of England and avoided broader tax rises. For his part, Darling argues that we cannot cut our way out of recession but we can grow our way out. But he is showing increasing confidence in the future of an ailing economy and we can only hope that this is for rational reasons rather than political ends.

Jack

Internationalising Environmental Solutions Conference

2009-04-20T10:22:00.002+01:00

Abchurch’s Green Team was in full force at the Internationalising Environmental Solutions conference last week held at the Imperial War Museum at Duxford, near Cambridge. The conference was jointly organised by EnviroTech (its director Hugh Parnell is a long-time friend of Abchurch) and The East of England International, with the support of the UK Department of Trade and Innovation. It aims to promote environmental technologies and increase the inflow of international investment and talent in the region. Remarkably the this is likely to be the only region to reach the UK government’s target of 10% electricity from renewables by 2010.

At the conference we saw an impressive number of high-calibre organisations, university centres, and investment incentives set up to promote environmental innovation and business development. Ending the conference on a high note, Abchurch was also mentioned in Hugh’s presentation as a preferred provider of PR services.

Justino & The Tsangaroo

Word of the week

2009-04-09T10:16:00.003+01:00

With March taking the FTSE 100 up above the 4,000 mark again there was talk of a return in the equity markets. What’s more the Dow Jones had its largest monthly rally since 2003! The ‘historic’ G20 doesn’t seem to have had any immediate effect on commercial confidence however, especially in the UK where job cuts are increasing and our flagship FTSE drifting below 4,000 again. Last month is ever more firmly stamped as a ‘bear market rally’ so the next bounce will need to be a little higher for equities to lead the way out of the recession.

Jack

Word of the week: G20

2009-04-03T09:30:00.000+01:00

So the world leaders have gathered in London this week to sort out the fuddle we have got ourselves into. Thousands more have taken to the streets to demonstrate and in some cases disrupt proceedings. Holding the summit in London’s Docklands area, a few miles from the City and one of the world’s financial centres, does not seem the brightest of plans.

Worryingly there is as much posturing amongst the aggrieved protest groups as between the world leaders, particularly within Europe. And with nine hours of discussion scheduled there is much more than a simple rearrangement required to satisfy the bated breath around the world. None more so than me looking rather drab and hoping I can get back into my uniform with renewed optimism. Pukka.

Jack

Image courtesy of suburbanslice on Flickr, through a Creative Commons License.

Baker Tilly is Taking AIM

2009-04-02T17:15:00.003+01:00

Baker Tilly's recent Taking AIM survey gave some encouraging statistics on the AIM market.

Although much reduced, AIM’s IPO and transaction total in 2008 outpaced almost all other growth markets as well as the main London market, and is only two IPOs behind the much larger NASDAQ.

AIM’s global reach was undiminished with three quarters of IPOs coming from overseas.

Secondary issues remain a key strength for the market with £3.2bn of further equity funding completed in 2008.

A minimum fund raising for IPOs is felt to be a better regulatory change than a minimum market cap specification due to fluctuations.

Recovery will be preceded by that of the larger caps. But stock picking those that will survive and benefit from disappearing competition on AIM will be the major incentive for investors.

The most popular benefits for an AIM listing were:
1. access to capital, profile, credibility
2. liquidity
3. facilitation of acquisitions
4. facilitation of exit for investors
5. tax breaks and incentives

72% of AIM companies have implemented cost cutting measures.

More than half of investors reduced the proportion of funds invested in AIM stocks.

40% of investors believe the reduction in IPOs has increased the quality of the market.

65% of investors put a higher proportion of funds into secondary issues in ‘08 than ‘07 reflecting the continuing support for good AIM companies.

69% of companies and 67% of investors expect AIM to recover from the downturn in 2010.

82% of investors consider UK companies to be a more secure investment than their overseas counterparts.

51% of investors expect the IPO rate to level off at 100-150/ year.

The most important criteria for investment were:
1. good track record
2. good business plan
3. good management
4. strong balance sheet
5. realistic valuation

British Press Awards

2009-04-02T16:33:00.008+01:00

To the British Press Awards Dinner at the Grosvenor where I was invited as a guest of Farrer &Co., leading media lawyers. Jon Snow of swingometer fame came straight from his Channel Four news spot with a great speech to present these most prestigious awards.

- The Times won three awards including National Newspaper of the Year- Sam Jones of the FT was highly commended in the Young Journalists of the Year category but was pipped to the post by Tom Harper of the Mail on Sunday
- Digital Journalist of the Year was Dave Hill of the Guardian, the title that also picked up the Website of the Year Award
- Business and Finance Journo of the Year went to Stephen Foley of the Independent
- Gillian Tett of the FT picked up the coveted Journalist of the Year award for her early take on the economic meltdown

The hacks lived up to their alcoholic haze image but let themselves down slightly by giving their winning colleagues a standing ovation each time one them returned to a table with the relevant gong, but then sat and chatted whilst the International Journalist of The Year prize, won by Mohammad Sadegh Kaboudvand, went uncollected because he is doing a ten year stretch in an Iranian prison for the writings that won him the prize - shame on them for not acknowledging that.

There was hot debate on the table as to whether it was technically possible for the Mail on Sunday to win “Scoop of the Year” for its coverage of Ross & Brand. How you can “scoop” something that has already been broadcast on national radio tested the top media law brains!

Congratulations to the winners, a full list can be found here.

Bozzy

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Southwest have it all Rapped up

2009-03-27T13:05:00.006Z

Only this week, the Financial Times reported that the airline industry is in dire straits. With the recession fully taking hold, fewer people are flying and fewer still are paying premiums for business and first class tickets. Since these are the major money spinners for airlines, profits in the industry are nosediving sharply.

With this in mind, it is no wonder that US budget carrier Southwest Airlines is bigging up a member of staff who – to save putting himself to sleep having made the mind-numbingly boring safety announcement for the fifth time that day – decided to liven it all up Will Smith style to the delight of a passengers who posted the video on YouTube.

The blogs and papers reported that it was an instant hit, with hundreds of thousands of viewers in just a few days, though a bit of savvy sleuthing by Abchurch found that actually a video of the rapping attendant first surfaced months ago. Either way, in these times, PR like this is priceless, and that a video from one girl’s cell phone in the US can end up in the UK’s Daily Telegraph really illustrates the power of viral marketing. The bonus for Southwest is that this is completely genuine and transparent, embracing the founding principals of social media. This is in huge contrast to companies who have to pay an agency to create videos that are intended to go viral. Not genuine, not transparent.

But while hunting for the video of this I actually found two versions; one filmed by a passenger (linked above), and another filmed from right next to the man himself. If you play a ‘spot the difference’ game, you will notice that:

1. the second video was shot on a camera that was of significantly higher quality than a phone.
2. there were fewer crazy passengers screaming “Yee Ha!”
3. David Holmes no longer has a sheet of paper with the words on it
4. the passengers are different

This, of course, made me think that Southwest cottoned on to the popularity of the video and decided to film David rapping for their own PR efforts, although it doesn't seem to be on their official YouTube channel NutsAboutSouthwest. Official or not, does this change how genuine the video is? I don’t think so. Now there are lots of passenger videos of him rapping, on flights headed all over America. I think that Southwest are making the most of a brilliant opportunity that has come their way. And as the guy mentions at the beginning of his spiel, many of the stewards on Southwest have ‘talents’ which include singing or dancing. I think if Southwest are open to letting their staff and passengers have fun on a flight, and they benefit from it so positively, then there is no reason they should not make the most of it – just as long as they don’t go after all their other staff and start filming them doing crazy tricks too often.

These are – ahem – turbulent times indeed for the airline industry, but it looks like, for a while at least, this great viral video will help keep Southwest flying high.

Simone

Looking at liquidity on AIM

2009-03-19T12:49:00.000Z

This week I attended an event organised by Vitesse Media's Growth Company Investor and BDO Stoy Hayward about “Liquidity on AIM”. The task was to find AIM’s most robust stocks with a market cap over £10 million. Vitesse Media and BDO assessed the trading statistics of every single AIM company, a total of 1550, over a six month period. They whittled down the list to just 106 companies with a market cap of over £10 million, and that had at least 50% of its shares traded in the six months. For these select companies, sales levels, profit levels, growth rates, and levels of corporate governance were all scrutinised, as well as brokers, advisors and market makers.

The findings note that there is a strong correlation with trading volume and the number of market makers supporting a company. A greater commitment by directors to engage with analysts and brokers can be well worth the time involved. There was a lot of emphasis put on corporate governance, since on average there ware more non-executive directors and separate Chairman and CEO roles in the most liquid companies. Happily, the most significant factor in liquid stock is NEWSFLOW. I quote: “Companies, especially smaller companies with little following, will see their shares trade and re-price only when something happens. By contrast, those that actively disseminate news and results should see trading volumes improve.” BDO continues to say although this takes quite a bit of management time, persistence does pay off.

Heather

GCI’s Spotlight on AIM

2009-03-09T08:30:00.000Z

Heather and Bozzy attended the Growth Company Investor Spotlight on AIM breakfast last week. The annual survey of London’s junior market produced some characteristically enlightening statistics:

Companies valued below £20m: 71% (2007: 53%)
New Aim issues: 70 (2007: 222, 2005: 438)
Fund raising for admissions: £903m (2007: £6.25bn)
Delistings: 228 (2007: 224)
Total number of AIM companies: 1,550 (at year end 08)
Total market cap of AIM companies fell by 61% to £37.7bn (2007: £98bn)

Best share price performers

1. Avisen (formerly Z Group)
2. Tepnel Life Sciences
3. Ramco Energy
4. Futuragene

Sector wise there has been great change. The oil and gas, mining and real estate sectors have fallen in value particularly whilst general financial pips all three to be the most populous and high value sector on AIM.

Word of the week

2009-03-06T17:14:00.004Z

£650,000 a year?? This is the figure that has stoked the fury of the headlines over the past week as it emerged that Fred ‘the Shred’ Goodwin would take his leave with an exorbitant pension despite notching up a £24bn loss as former Chief Executive of RBS. It was made worse by the realisation that as a part nationalised bank we, each of us, would be paying for it. On my calculation, taking the UK population as around 65million, every penny that Goodwin ‘earns’ as a retired man will be paid for by 10 of us. However, the debate over whether Goodwin will surrender this pension package still seems like a side issue to the real mistake. The government, Lord Myners as City minister in particular, have yet again been caught between two bases.

1. We knew about this and did nothing.
2. We didn’t know about this and we should have.

If all the indignation against Sir Fred was aimed at the government then there would soon be the change that is necessary to change the wider crisis. However Brown’s faulty triple regulatory structure of the Treasury, the Bank of England and the FSA seems yet again to be doing him the service of bouncing blame around until it loses its punch and drifts down on no one.

Jack

It's a girl!

2009-02-27T09:34:00.004Z

Abchurch sends congratulations Ariane Comstive who on 8th February gave birth to a beautiful baby girl named Thaïs Camille May. We were so excited to see the first photos of Thaïs (and pleased that Hello! has not already been given first dibs). We wish Ariane and her family all the best with their new addition.

Bozzy

Pedicabs at Midnight...

2009-02-27T09:25:00.000Z

The Abchurch team of Justin, Tsangasaurus Rex and Jo, lead by Bozzy, put on their (green!) glad rags for the Rosenblatt New Energy Awards at the Natural History Museum last night, and headed for a night of champagne, awards, and dinner under a dinosaur.

Janet Street-Porter and Zac Goldsmith hosted the evening, which was another great event by Vitesse. The Abchurch tables were jam packed with green heavy-hitters, including Charles Stanley, Matrix, Independent on Sunday, JPMorgan Cazenove, BBC, as well as Abchurch clients Proton Power Systems, EnergyMixx and Bluewater Bio.

Legal Abchum "Fewan Two" kept our tables amused, first by orchestrating a mid-speech chime of falling glasses – you rang Sir? - and then in a curiously Oedipal way referring to his wife as his mother. She should gate him!

Congratulations from Abchurch to all the winners!

Jo

Image courtesy of johnnyalive on Flickr, through a Creative Commons License.

Word of the week

2009-02-27T09:10:00.002Z

The great clean up seemed to turn, or at least begin to veer around, a corner this week as the government and the FSA progressed with new regulation and an asset protection scheme dubbed ‘Operation Broom’. Lord Turner, head of the City regulatory body, dismissed past practices as ‘fundamental intellectual failure’ and cited a ‘revolution’ in City governance that had already progressed in the last 18 months. So what does this mean? Banks are now likely to be required to hold up to three times as much capital against their trading assets and there will be far more scrutiny of whether senior bankers are fit for their jobs. And with Lloyds and RBS soon to announce record losses, Alistair Darling is also stepping up efforts to isolate bad debt in both banks. This will allow them to return to normal lending capacity and avoid a further investor sell-off that might force nationalization. The wheels are beginning to turn at least and the survival of the two banks over the weekend should (worryingly) be a good sign. If not it’s hard to see how the government itself will survive.

Jack

'Why did nobody tell us?'

2009-02-27T09:02:00.013Z

Jack and I attended a fascinating debate this week at the London School of Economics: ‘Why did nobody tell us?' reporting the global crash of 08’. The debate boasted a celebrity panel of Evan Davies (BBC), Vince Cable (LibDems), Gillian Tett (FT Assistant Editor) and Alex Brummer (Daily Mail City Editor) alongside LSE professors Willem Buiter and Howard Davies. The heated and occasionally humorous debate centred on the role of the financial press and its actions leading up to the current crisis:

The role of the press: Davies argued that the bulletin nature of news prevents balanced stories and should reflect rather than disrupt wider opinion.

The scope of the business press: Tett described the ‘iceberg memos’ which she drew up as editor of the Lex column in ‘03/4. They portrayed the vast areas of the City such as credit default swaps, derivatives, securitisation and debt that remained underwater receiving negligible coverage. These now hazardous areas were isolated from the outside world in favour of a focus on equities and foreign exchange issues.

The banking model: Cable suggested that the requirement of governments to protect banks necessitates state regulation similar to that used in utility companies. And also that losses AND profits need to be nationalised.

The ability to forecast crises: Willem Buiter (LSE) illustrated that history is hard enough to plot accurately and that global crises have never been forecast. He suggested that the requirement of the media to entertain inhibited any compelling warning.

The rank of financial press: any warnings that did appear remained in the business section ‘on p86’ as Brummer put it. Tett portrayed the City as unaware of the context of their industry which has led to the unforeseen impact of its demise. This ‘Bloomberg Screen’ mentality develops from the wider public’s distaste for the alphabet soup of finance.

The housing crash: Brummer demonstrated how the Mail had continually warned of a housing bubble. Davies suggested that since ‘05 sensible homeowners should have been wary of a bubble.

Financial PR: Tett and Howard Davies (LSE) described how the time pressures on journalists have assisted the growth of financial PR. They agreed that a PR serving the private interest of clients should not prevent a journalist publishing unbiased information.

This was a incredibly informative event hosted by the LSE, and the team are looking forward to attending many more in the future.

Nick

Abchaps are hitting the award ceremonies with a whole New Energy

2009-02-23T13:00:00.009Z

Have you ever had dinner underneath a dinosaur? I thought not. It’s that time of year again, the glam and the glitz of London come together in a sparkling black tie affair at the Natural History Museum for Rosenblatt’s New Energy Awards on Wednesday 25th February. The ceremony recognises the “achievements of management teams, companies and projects that have made a significant contribution to this sector during the past 12 months.”

Justin and our very own “Tsangaroo” who head up our cleantech team will be donning their gladrags and hosting the Abchurch tables at this year’s event joined by clients and City friends, and Jo will be joining Vitesse Media.

Justin has insisted that we stick strictly to the dress code of “Black tie with a green twist” which is highly open to interpretation. An organic cotton shirt perhaps? A recycled bow tie from a charity shop? Something carbon neutral? Or as fashionista Jo has taken it to mean “a full on shiny green dress, a bit like a mermaid!” If you’re a guest of Abchurch, you’ve been warned!

With a win for one of our clients at last year’s event and a nomination for a different client in the same category this year, the cleantech team will be on the edge of their seats…

Photo: Phillie Casablanca on Flickr

Team Abchurch make a Sterling effort at the Quiz

2009-02-20T16:21:00.006Z

“Obviously, we deliberately answered the questions incorrectly so that we wouldn’t embarrass the bankers, otherwise they wouldn’t bring us deals” – very convincing Henry. Sadly Abchurch didn’t quite make it to first place at the Sterling Quiz on Thursday, but we definitely would have won the rowdiest table award (there was much cheering to celebrate Jack’s flashes of brilliance). The Abchallengers, determined not to be utterly humiliated, seconded Jo to the Collins Stewart table as an honorary member of team 'What's "financial"?' she did her best to lead them astray by feeding them the wrong answers. Steph offered to help Investec find alternative careers as a boyband (X-Factor here we come!), and insisted that they practice their dance moves in Abacus later on…

Heather and Toppers didn’t exactly lead the team to victory, but did provide much entertainment during the battle against the likes of Evolution, Fairfax, Noble, and RBS. Toppers’ music knowledge was invaluable, and we got an intriguing insight into what he was up to in the early 90’s…

A huge thank you to Sterling for such a fun night (although we missed PM desperately)!

Team Abchurch

Photo: Oberazzi on Flickr

Word of the week

2009-02-13T17:46:00.003Z

Sir James Crosby, resigning Deputy Chairman of the FSA, has dominated the news agenda this week. PM Gordon Brown is now facing mounting criticism as it emerged he had knighted and positioned Crosby with the FSA and as a key government financial adviser. This was despite the fact that Crosby, whilst CEO of HBOS in 2005, had sacked senior risk manager, Paul Moore, over concerns that he voiced about the sustainability of the HBOS model – now nationalised by the government. With the Commons Select Committee holding grilling sessions on a weekly basis the recession seems to have descended into a blame game. Moore follows Robert Peston and Gordon Brown as claimants to the title of “I called the recession ages go, you idiots” whilst all quarters have got used to the tone of Mervyn King’s latest funeral dirge that confirmed a “deep recession”. Let’s hope someone finds the way to daylight soon to stop all this shouting in the dark.

Jack

Abchicks and the Twitterati

2009-02-13T16:32:00.008Z

Ever since Chris Moyles and Phillip Schofield joined Twitter last week, the UK buzz surrounding the microblogging site has been growing. You can’t turn on the radio or pick up a newspaper without someone talking about it. Even @StephCuthbert has become a prolific Twitterer (tweeter?) this week and she’s not even sure what it’s all about. Although Twitter is by no means new, now that even more high profile media figures are endorsing Twitter as “the next big thing” it looks like the UK is finally ready to jump on the bandwagon. Twitter is going UK mainstream and Abchurch is floating on up with it.

So what’s it all about?

Thanks @CommonCraft!

Twitter is such a great platform for communicating and sharing ideas and because each ‘tweet’ is limited to 140 characters people get to the point very quickly (and usually with a good helping of wit). This is really useful to gather and spread information fast. People were tweeting during the inauguration, various earthquakes, the Mumbai attacks, today’s Buffalo plane crash and much more. It’s a brilliant way of getting real time information from a variety of sources and Twitter is fast becoming a source for breaking news.

I won’t continue to extol the virtues of Twitter here, but I’ve been a glittering member of the Twitterati for nearly a year and these are the things I love about it:

• Connecting with people who are so interesting and helpful, but who I might never have otherwise come across
• It’s easier to follow a couple of hundred people on Twitter than read two hundred different blogs
• There’s a constant stream of new and engaging content, interesting conversations to join and useful web links. It simply doesn’t stop
• It’s great when you share something and someone on another continent who you have never met before replies. (I just had a reply from a Japanese seamstress in Tokyo who hand embroiders kimonos. Where would I ever meet her in real life?)
• If you have a bizarre question, chances are someone out there will have the answer.
• There is freedom to reply to anyone. While I would never write a letter to Stephen Fry, I’ll happily reply to one of his tweets and @stephenfry is brilliant at keeping a dialogue with his fans, as is @Schofe.
• It makes me laugh out loud at least once a day
• It’s totally current and these days, speed is your best friend.

But what use is Twitter to PR? There are already so many blog posts about how to use Twitter for business and it can help enormously with branding etc., but in terms of knowledge and relationships I personally find Twitter is a brilliant tool for helping me do my job.
Why?

• With all the national newspapers on Twitter, it’s a one stop shop for news feeds. By following national papers and other newsfeeds, I will often see as soon a story breaks.
• I also like to follow journalists, their tweets often have great tips for PRs pitching ideas by virtue of the fact that they regularly tweet about how PRs screw up. Note to self: don’t do that. Journos also tweet about stories they are writing or questions they need answered. @charlesarthur and @harrymccracken are great journalist Twitterers
• I follow loads of industry channels so I get a constant stream of industry news – great for keeping me informed of issues that might be relevant to my clients.
• I also follow many media and tech trailblazers like Michael Arrington @TechCrunch and @GuyKawasaki – those guys that were using Twitter years ago are the ones who will decide which apps will take off tomorrow.
• Other PRs are also great to follow, they often point to interesting blog posts or other sites and the seasoned pros have great tips that are so useful. Their anecdotal industry chat is also pretty amusing. It’s amazing what you can fit into 140 characters.

In case you can’t tell, I'm a pretty huge advocate of Twitter! I’m not using all the features and functionality yet and I still think it’s great, so the possibilities are probably endless. I totally get a kick when I am followed by massively influential people like @stephenfry and @barakobama (and also for those in the know, @guykawasaki, @scobleizer and @chrisbrogan). They care about what I have to say and I think therein lies the greatest benefit of Twitter. It gives you a voice, and it gives you an audience. As long as you play by the rules, it seems like win-win to me.

Simone
@accidentalsci

Word of the week

2009-02-06T11:43:00.010Z

The Bank of England cut interest rates again this week to 1% taking us back 300 years when this level was last reached. The decision by the Monetary Policy Committee, who voted that borrowing should be made even easier, received an ambivalent reaction despite the stated intention to assist businesses and homeowners starved of credit. The Federation of Small Businesses commented that the rate cuts were not helping but hurting savers needlessly when alternative stimulus measures were needed. This view is encouraged by the government’s continued struggle to force the hand of the corporate lending markets. Many businesses, particularly SMEs, are seeking help via state intervention but the government is uncomfortable with further action including taking board positions on the country’s biggest institutions. Such action, however, may be inevitable as the slide in interest rates has now reached unprecedented lows.

Jack

Growth Companies’ Issues on AIM

2009-02-05T17:51:00.004Z

Last week Heather attended the Growth Company Investor seminar about New Issues on AIM. As usual GCI’s team of researchers had produced some intriguing data:

• £1billion raised during 2008, less than 14% of the £6.25 billion generated in 2007

• Food is the best performing sector on AIM

• The most active NOMAD is Seymour Pierce with 6 IPOs, for which it helped raise £117.9 million

• Investment fund specialist, Fairfax, raised 2nd highest amount via the single £116 million transaction for the Terra Catalyst Fund

• Leading NOMAD in terms of client price performance was WH Ireland

• Cenkos, Grant Thornton and KBC Peel Hunt all completed 5 floats apiece

• Collins Stewart’s two IPO clients performed strongly – acquisitive shell Marwyn Materials up 55% and Yangtze down only 8%

• The most active accountants are Deloitte and KPMG, jointly with 9 clients each followed by specialists Grant Thornton and Baker Tilly with 8 each

Grit and bear it?!

2009-02-04T14:59:00.009Z

London can cope with a lot. Political sleaze? No problem. A crisis crippling the financial world? Bring it on. But six inches of snow? Not a chance.

As if London grinding to a complete halt earlier this week wasn’t embarrassing enough, we hear that, of all things, we are now running out of grit.

Newspapers and other media outlets from the New York Times to the South African Witness were talking about the snow in London and how we were simply unable to cope. Even the LA Times had a dig, rich considering we all know how well the Californians cope with rain.

With buses left idle, trains stuck in stations and people advised not to drive, the entire transport system was crippled, more than 3,000 schools were closed, and many of those who did make it in to work were sent straight home again. A journey well spent.

The City was like a ghost town and it looked to us Abchaps like we were the only ones in the square mile with enough stealth and stamina to make it in to work. Albeit two hours late. But in true PR style we were rewarded with a glass of champagne for our worthy efforts.

But what has the snow storm done for the reputation of London? David Frost (I know, thoroughly appropriate), director-general of the British Chambers of Commerce described the situation as "not a very positive image for the UK.” A gross understatement, one might say, particularly when European TV channels were showing footage of stranded commuters and abandoned buses in snowfall that many would regard as light. With the storm having been predicted by late last week, it could be argued that we had at least a little time to prepare, and were not really, as Frost claimed, “caught on the hop”.

Hopefully by the time the snow has melted, the chaos of Monday and Tuesday will all be forgotten, but God help us if something like this hits us again and London is no better prepared. We should be if only to avoid the embarrassment of looking quite so pathetic in the face of a bit of 'adverse weather'. It is indeed a sad day when the Americans can point the finger and laugh at us. “It’s all so silly,” concludes Abchurch’s Jo, “and if we’re running out of grit, why don’t they just buy more?”

Quite.

Simone

A London cabbie puts the City to rights

2009-02-02T14:17:00.006Z

I bust the credit crunch earlier by getting a cab in to work (bad) but had an interesting chat with the Cockney geezer driver. It went something like this:

“It’s OK if Barclay’s CEO does OK and is minted since he provides loads of jobs and starts up loads of businesses round the world, innit.

“And all the people in the City – they are all getting into sh*t, told they’re greedy. Well, innit a capitalist world? And they help the world go round and, well… they’re just doing their job – innit.

“Oh, and by the way I think that Corus, the massive steel maker, is jumping on the bandwagon, they have been going for 30 years and they could have seen this coming ten years ago but only now they lay off 4000 people. What’s going on? Are they blind? Are they threatened by Mittel, the biggest steel maker? Maybe Corus want to be bought by Mittel, so they think - strip the assets, fire the people and it’s a cheap buy - innit.

“I remember when I got my first mortgage and it was 17% interest and I put away ten grand in a granny bond – lovely jubbly, bob’s your uncle.

Innit?”

Robert Peston – reassess your speed dial!

Heather

Look who’s judging…

2009-02-02T10:12:00.014Z

The Abchaps were out in force on Wednesday at the Growth Company Investor's Quoted Company Awards at the Grosvenor House Hotel, scattered around the room on tables hosted by St Helen’s Capital, Vitesse Media, and HW Fischer. There was of course also an Abchurch hosted table, which included some of our fabulous clients Lighthouse, zamano, Medicsight and BrainJuicer, as well as some of the ultimate movers and shakers from Collins Stewart, Jefferies, Mazars and Canaccord. You know who you are!

Our very own Heather Salmond, Managing Director at Abchurch, was given an illustrious position on the judging panel, and took part in the interesting and lively debates about the merits of the companies and individuals in each of the categories leading up to the Awards. Owen Waft of K&L Gates’ email the next day said it all: “Highlight of the evening was, undoubtedly, nearly choking on my bread roll on seeing Heather’s visage on the Panel of Judges pages in the programme”.

The event itself was a super night, very interesting to hear Lord Seb Coe speak, and a great opportunity to catch up with contacts after the holiday period. And despite the state of the market it was a very upbeat night, with much celebration from the winners (particularly the very charismatic and lively Kate Bleasedale of Healthcare Locums – I wish they had given her a microphone!). And with plenty of alcohol, the evening went on for probably longer than strictly necessary! All in the name of Market Communications...

Congratulations to all the winners:

Investor of the Year: Gervais Williams, Gartmore Growth Opportunities Investment Trust
IPO of the Year: Hugh O’Donnell, Kentz
Deal of the Year: Anthony WP Sage, Cape Lambert Iron Ore
Specialist Investment Vehicle of the Year: Ventus VCT, Charles Conner
Finance Director of the Year: Rene Gawron, SQS
Entrepreneur of the Year: Kate Bleasdale, Healthcare Locums
Non-Executive Director of the Year: Stuart Doughty, Scott Wilson Group
Chairman of the Year: David Rasche, SSP
Chief Executive of the Year: Charles Wilson, Booker
Lifetime Achievement Award: Andy Buchanan, Octopus

Jo

Word of the week

2009-01-30T15:15:00.029Z

The UK was officially in recession following figures published on Friday that GDP had dropped a further 1.5% in the last 3 months of 2008 following a 0.6% drop in Q3. And it felt momentarily like the chaotic winds of Autumn again in the past week with RBS and Lloyds suffering huge share price slides. The market settled down on Monday with Barclay’s meteoric 65% share rocket as the bank’s chief executive and chairman resorted to publishing a joint letter to the stock market outlining in detail why it had no need to bolster its capital with extra government funding. This welcome confidence boost was undermined as it emerged on Tuesday that the reintroduction of short selling had coincided with US hedge fund Paulson & Co cashing in on £270m after betting on an RBS collapse. It’s not quite October again but lets hope these echoes are no more than that. Meanwhile Gordon Brown made the outrageous claim that "I called for global financial reform 10 years ago"! I suppose he has been busy as UK chancellor since then and hasn’t had much time to think about shoring up the security of our economy. Dear me.

Jack

Chav free holidays: Super snobbery or a clever PR stunt?

2009-01-29T16:10:00.002Z

I bet you’d never heard of Activities Abroad before yesterday had you? In fact even now you may not know who they are but chances are you’ve seen the headlines about the company offering ‘Chav free holidays’. Chardonnays, Biancas and Dazzas need not apply, thank you very much.

Though intended to be tongue in cheek, the story has sparked a bit of a backlash from the ‘chav’ monikered public, and Director Alistair McLean fanned the flames by saying things you just shouldn’t say: "Everybody else in our society [except for the middle classes] seems to take from us whether it is incompetent bankers or the shell-suited urchins who haunt our street corners." Ouch.

But right and wrong aside, was it a successful marketing campaign?

The comments have certainly generated a lot of media interest. The story was covered in all the nationals as well as blogs, and while people expressed shock and outrage at the comments McLean gave, how many of them were secretly thinking “hmm, he has a point though”?

The question in my mind is whether or not McLean was actually being very smart and knew that controversial comments like his would get him press attention, with of course the old adage that no publicity is bad publicity. Or indeed if the opposite is true and he just got very very lucky.

Either way, you know about the company now. The “shell-suit wearing urchins” will no doubt continue to stay away (although this might be a purposeful boycott now rather than lack of interest), and if you do happen to be looking for a holiday away from the Costa del Chav, you might just have found the answer.

A word from the Abchief

2009-01-29T15:25:00.007Z

Welcome to the first Abchat blog post! The holiday season is over, 2009 is well upon us, we're braced for a busy year and how better to start it than a brand spanking new Abchurch blog?

With the emergence of new media outlets which are now key in sharing knowledge, fuelling discussions and forming (and cementing) opinions, we thought it was high time we started embracing this online culture. Blogging will be a great way to share our knowledge and expertise, as well as giving our clients, business partners and anyone else who has an interest in media, an insight into what life in the PR industry in London is really like.

So what will you find on our blog? Hopefully a variety of things from what we are reading in the papers – the big stories and issues affecting the City – to advice on what companies should be doing in terms of media relations in the current economic climate. We’ll have news on the events we’re attending, who we’ve been meeting and general Abchat topics.

Abchat is a light-hearted informal exchange of views and news. Hopefully – while not being too controversial – we will provide food for thought, stimulate discussion about issues that are affecting the City, and to that end we encourage readers to comment and debate, ask questions and leave opinions. Comments are unrestricted but in the interest of good practice they will go through a checking process to avoid any offence! We want to engage with the online community and hope that this will be a great way of doing it. Please do participate to help keep this site fresh, lively and fun!

Bozzy