Weekly Wrap Up: Predicting the future with social media

Last week it was revealed that a new trading platform, Trading.co.uk, aims to inform traders about potentially market-moving events hours before they hit mainstream news outlets. How do they do this I hear you ask? No, not through a call center like room filled with psychics. The platform simply tracks social media conversations.

I use the word ‘simply’, as the website actually analyses 22bn bits of data every day from various social media channels, including twitter and blogs, alerting users if it spots a spike in activity or sentiment. So, just a bit of light cyber stalking then.

Closer to home, such technology could change the way PRs handle crisis communications for their clients. Imagine if your organisation’s communications advisor could pick up a potential crisis situation before the press did, even if it was only by an hour or two. That way you and your advisor would have between 20 and 120 minutes (that is the length of time estimated by Trading.co.uk between the event being flagged and a price movement) to calm the waters, correct the error, prepare for the storm, and mitigate the situation.

The platform uses an example that it identified the Smiler roller coaster crash at Alton Towers within minutes, nearly an hour before media reports were published and Merlin Entertainment’s share price dropped by 10pc. Another example where the algorithm caught on was with the public opinion fallout regarding Volkswagen. By picking up the words “recall”, “pollution”, “cheating”, “EPA”, “scandal”, “tests”, “pollution” and “emissions”, the platform caught wind of the potential story around two hours before markets closed that Friday. News outlets subsequently picked up the story after trading hours and shares in the car manufacturer had fallen 16pc when markets opened on Monday.

However Gareth Mann, Chief Executive of Trading.co.uk stresses that “it’s not a predictive analytics engine, it’s an indicator that something’s going on that you need to look at.” In case you were wondering too, the algorithm, which continually evolves and learns as it goes along, uses only 10pc of the data available to it, ignoring information that would not be relevant to the markets such as a person tweeting ‘I don’t like my phone’ compared to a conversation about company results or a CEO’s behavior.

If this technology is proved to consistently work, it is a real game changer for all industries that involve reacting to unexpected human or business catastrophes. That also includes the media, who wouldn't want to miss out on this prediction tool. This shows how much social media has taken hold of our daily lives. We look to social media platforms for news and more specifically flash news before traditional media outlets. Even the press now look to these areas by way of informing themselves.

Social media platforms are becoming the first port of call where customers or the public make complaints or voice their grievances, therefore it is important for organisations to be fully engaged with these outlets in order to get a better grasp on public sentiment that could potentially affect their reputations. Perhaps it is time for the communications industry to adapt this technology so that in the near future, it can benefit clients and Companies by helping them to be better prepared to respond to special situations.



Last week, Crowe Clark Whitehill appointed Lisa Mead as its Private Client tax partner. Ashurt appointed Nick Elverston and Amada Hale to its global TMT team.



Cyber stalking – The action of searching for people online in order to find more information about them whether this is for business purposes on LinkedIn.



Sunset Boulevard
Glenn Close will be performing in her West End debut in Andrew Lloyd Webber's celebrated musical Sunset Boulevard at the London Coliseum 1 April–7 May.

Christie’s Lates
On the first Tuesday of every month, Christies will keep their doors open late. Between 6pm and 8:30pm for a post-work drink, to hear experts talk about art, interior design and collecting, and to see what happens behind the scenes at 85 Old Brompton Road

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Weekly Wrap Up: TalkTalk couldn’t walk the walk

“We're currently making security enhancements to our website, which should be back online soon.”

This is the message that you are greeted with on the website for one of the world’s biggest telecoms group, TalkTalk PLC. On Thursday 21 October the news broke that police had commenced a criminal investigation into the cyber-attack on TalkTalk, leaving 4.2million customers’ details including contact numbers and payment information exposed. However, the Company managed to disclose the news 24 hours after they had been made aware. The share price subsequently nosedived 10 per cent as further revelations were disclosed with regards to exactly what and who had been effected and statements from CEO Dido Harding claiming ”stolen customer data may not have been securely encrypted” did little to keep their head above water.

Would the graph look so similar if the company had developed a better, more stringent crisis communications strategy? Looking at Fig.1 the share price dipped during August. This depicts one of the two previous data breaches that the Company suffered and had this not been dismissed as a ‘blip’ then potentially the topography of this share graph would tell a different story.

Crisis communications, if not a desired consideration, should be ready and waiting in reserve to protect your company from any future bad news or operating faults, that you can respond in the most efficient, transparent and effective way to uphold your reputation as well as the safety of your customers and shareholders. Information security consultant Paul Moore rightly so states that ‘more worrying than the breach itself, had been TalkTalk's response to it’. There is a key to addressing the many communications issues related to crisis and disaster, of which TalkTalk have not handled correctly:

1. Anticipation of crisis:

Problem: TalkTalk had previously become exposed to data hacking and therefore should have placed measures to not only protect networks but individual data

It is not a matter of if it is a matter of when, cyber security especially is a must for companies storing the details of consumers, preparation is key.

2. Assessing the risks:

Problem: TalkTalk claim that they are unsure as to whether the data of customers bank details were encrypted, as confirmed by the broadband provider

With the level of technology available a company must have access to analogous detail, this is a good message to send to your shareholders if not your customers.

3. Communication and notification:

Problem: The lag time in notification from security breach to announcing this to their customers. People were left puzzled as to why the website was ‘closed for maintenance’ on Wednesday morning.

How will your news be shared with investors and/or the public, the quicker and more direct the better. Trust is based on communication and evidently leaving your investors and customers in the dark can break that trust.

4. Evaluation and analysis:

Problem: TalkTalk failed to learn from previous crisis: fail to plan - plan to fail

After the smoke clears revise the reaction and handling to secure your anticipation methods, think of the crisis as a vaccination, you come out stronger.

Hindsight is a beautiful thing however in the business world companies like TalkTalk cannot afford to simply tape up holes in the structure of their strategy of crises management.

Specifically cyber intelligence is advancing faster than some companies can develop their defenses, both systematically and managerially there is a drive to evolve rapidly to build resistance for the future and crisis. If a company can develop and format a clear and concise crisis management scheme then it should in theory be ahead of the game and ‘hacking’ can return to Horse and Hound.




This week, Abchaps hosted a market lunch, where respective opportunities in the M&A and IPO markets, as well as issues surrounding diversity in the City, were discussed. Our CEO Julian Bosdet also attended a dinner hosted by Nabarro to discuss the development of AIM.



KPMG has appointed Catherine Grum as its Head of Family Office. She joins from Salamanca Group where she was Managing Director and Head of the Private Office. Daniel Williams has been appointed global head of internal audit at the IG Group, having previously been head of internal audit for Europe, the Middle East and Africa at BGC Partners. Finally, Macquarie Investment Management appointed Gillian Evans as head of UK institutional distribution. She joins after 10 years at Goldman Sachs.



“Blip” - an unexpected, minor, and typically temporary deviation from a general trend.



Fed up with Halloween already? On Saturday, Regent Street’s sweep from Piccadilly Circus to Oxford will be filled with bumper to bumper cars as the UK’s largest free-entry motoring show rolls into town. Containing vehicles of all ages and abilities, from veteran cars straight out of period dramas to racing and eco automobiles, this year’s showstopper will include Aston Martin’s bespoke DB10, created especially for the new Bond film ‘Spectre’, of which only 10 were made for filming, out of which only 3 survived.

If you happen to be a car fanatic, the following day (Sunday 1 November).some of the classic cars involved will assemble again, early in the morning in Hyde Park, before setting off to Brighton for the London to Brighton Veteran Car Run. This annual event began in 1896 when the law requiring motorists to have a man bearing a red flag preceding their cars was abolished. Car owners celebrated by destroying their flags and setting off for Brighton in the 'Emancipation Run'. The first organised run took place in 1993 and today the event attracts owners of veteran cars built pre-1905 from all over the world.

Christmas really is approaching as the Oxford Street Christmas lights are switched on this Sunday. The Oxford Street Christmas lights will see 1778 snowball-like decorations (and their 750,000 LED lightbulbs) lit up once again for what is the fifty-sixth year the road has been decorated for the festive period. In a subtle upgrade from last year's display, 445 new golden baubles will twinkle among the existing silver lights. Kylie Minogue will do the honours, and a stage outside the Pandora Marble Arch store will host live musical performances and celebrity presenters from 5.30pm including Foxes, Fleur East, Gabrielle Alipin, ‘X-Factor’ winner Ben Haenow and performers from ‘Matilda the Musical’.

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Weekly Wrap Up: The Great British steel off?

This week, India’s Tata Steel, announced that it would be cutting nearly 1,200 jobs at its plants in Scunthorpe and Lanarkshire. These events put the deepening manufacturing crisis in the UK into sharp relief as the layoff effectively marks the beginning of the end of the steel industry in the North.

Tata is the third steel company to announce significant loses and cuts over the past few weeks. Both Thailand’s SSI and Caparo Industries previously operated steelworks in the UK and have also been forced to make similar announcements. Tata Steel were in an impossible position to escape from press criticism. However, Tata’s response to the situation has arguably helped the Company to weather the storm and remain in the strongest position possible.

Immediately following the layoff, Tata Steel, U.S. Steel Corp., and other steelmakers called for increased trade protection from China’s overproduction and the resulting cheap supply of steel (see Wall Street Journal). This action has two major benefits; First, it helps to show that the manufacturers are being proactive to help mitigate the situation. Second, it helps the public to perceive the layoff as the outcome of an industry issue, by diverting the media’s attention away from Tata’s responsibility, and instead pointing towards an alternative macro cause - the oversupply of steel from China.

The industry issue could not be more pertinent, as President Xi Jinping and his wife have been touring the UK as part of the first Chinese state visit to Britain in 10 years. Almost all media outlets which covered the layoff have also investigated the overproduction of steel from China.

Tata’s example once again demonstrates the importance of extensive communication between companies, the media and the public in times of financial distress. A proactive approach to crisis communications helps both the public and the media put things in perspective, and could perhaps even draw sympathy as companies operate in difficult business environments.



This week, Abchaps attended Small Cap UK’s 20 years of Small Cap party as a guest of UHY Hacker Young at the Brand Exchange, celebrating 20 years of small cap equities in London.





Fieldfisher has appointed Matthew Hinxman as partner in its finance practice, joining from Baker Botts. At BNP Paribas, Wike Groenenberg has joined as global head of emerging markets strategy, having previously been head of strategy for BlueBay Asset Management’s emerging macro fund. Finally, Pinsent Masons have appointed telecoms specialist Reg Dhanjal as partner. He joins from DAC Beachcroft.



“Cataclysmic” - a momentous and violent event marked by overwhelming upheaval and demolition; an event that brings great changes.



All Rugby’d out? Try something a little off piste this weekend as Ice Hockey teams London Raiders take on the Bracknell Hornets, the atmosphere will be electric at the Lee Valley Ice Centre in East London, as this sport takes no prisoners.

Sushi Samba is closing this summer’s party season with their last day party in conjunction with Dayzed, if you fancy sipping on some bubbly and enjoying views from the 39th floor of the Heron Tower then head back into the City this Saturday.

And lastly do not forget that this weekend the clocks go back, so you can look forward to that extra hour in bed, nothing worse than getting up for work an hour early on a Monday!

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Weekly Wrap Up: Will Britain un-friend Facebook?

Tax. Let’s be honest, we all loathe it. Let’s be honest, it is a necessary evil. Let’s be honest, there’s nothing that quite gets the people of Britain’s blood boiling like the subject of tax avoidance. The subject has again made an appearance in the headlines this week when it was reported that Facebook paid less than £5,000 in UK corporate tax last year. This has sparked debate about technology companies that go to extraordinary lengths to cut their tax bill.

The UK and Facebook are not alone – Bloomberg Business highlighted ‘eight of the biggest US technology companies that added a combined $69 billion to their stockpiled offshore profits’. These companies including, Microsoft Corp., Apple Inc. and Google Inc. accounted for more than a fifth of the $2.10 trillion in profits that US companies are holding overseas.

Back in February 2014, Abchurch asked the question why bankers are being demonised for their pay packets and not tech billionaires. Now, a year and a half later, tech is under the spotlight and this is shown by a wide variety of media outlets calling for more regulation when it comes to tax and technology companies. The view is even shared by a number of traditionally right wing publications, such as the Times. If this trend continues, one such result might be the exodus of global tech players from the UK.

However, this recent bad press for tech companies suggests that the trend is changing and discontent is growing amongst the public. The revelations regarding Facebook will reignite the debate about how much UK corporation tax companies should pay at a time when several multinational corporations are being investigated by the European Commission over the tax arrangements they have with European Union member states. According to the BBC: ‘Google, Amazon, a division of the Fiat motor company and Starbucks are all subject to the investigation and the European Commission has said it could widen its probe further.’

One thing is certain, tech companies will no longer fly undetected under the radar. The more this behaviour continues, the more severe the reaction from the British press, and in turn the public and Government, will be.

To avoid making the same mistake as the banking industry, the tech companies need to start taking proactive approaches to rebuild their corporate image before the anger and mistrust of the press and public get out of control. In addition, these tech giants should be communicating frequently and immediately with the public on the initiatives they have taken to align themselves with public expectations, in order to reposition themselves as the public’s partners, not their enemies.



This week, Abchaps Quincy and Philip are attending the IPREX- EMEA Fall meeting in Amsterdam, where we will be meeting with the senior members from our partner firms from the EMEA region to discuss the strategies taken by agencies to meet the challenges of the changing communications landscape in order to achieve growth and to deliver client results.

We also attended the annual charity fundraising event Grouse & Grape Luncheon and hosted a market lunch, which probed lively discussions about UK corporate tax regulations and IPO sentiment in the City.



This week Deutsche Asset and Wealth Management appointed Stefan Krezuka as Chief Executive Officer, Head of Investment Management and member of their Global Executive Committee. Howard Kennedy appointed Jonathan Metliss as a consultant specialising in corporate finance and Matthew Hinxman joined Fieldfisher from Baker Botts as partner in its finance practice, providing experience within energy and natural resources.



“Tax avoidance” - The legal usage of the tax regime to one's own advantage to reduce the amount of tax that is payable by means that are within the law.



For those of you who feel that sleep is overrated, Fabric is turning 16 this weekend, and to celebrate is going nonstop from Saturday to Monday. Finishing at 5am, so there’s still time to be at the desk bright and early.

If you prefer your weekend to be slightly more sedate, Tate Modern is opening the Hyundai Commission with an inaugurating installation called ‘Empty Lot’. Conceived by the Mexican artist Abraham Cruzvillegas, this work aims to create a unique portrait of London.

Finally, a weekend isn’t a weekend without a good meal, and Lyle’s of Shoreditch is offering just that. As winter draws in, take solace in this six course taster of all things game, with chefs from around the world coming together to create an international take on the most British of ingredients.

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Abchurch’s University Shadow Day: Thanks Y’All!

As the London representative of IPREX, Abchurch recently had the opportunity to host a group of communications students from Georgia Southern University. The trip was organised by IPREX so that these future PR Professionals could gain some first-hand insight into the industry. It was eventful day that included a presentation by CEO Julian Bosdet on how PR works, a social media presentation and even an opportunity for the students to participate in a brainstorm.

For Abchurch, one of the best parts of this experience was reading what the students had to say about the day in their blogposts.

It seems many students enjoyed trying their hand at PR, and one of our visitors even went as far as to describe the brainstorming session as an, “… incredibly cool hands-on look into how that firm handles choosing various pitch and marketing ideas.”

Another student wrote, “They gave us the chance to brainstorm some ideas for a new project using the communication tool kit. Doing this made me so excited to get into the world of Public Relations.”

And their enthusiasm was contagious – the Abchurch team really enjoyed hearing what the students had to say. We couldn’t agree more with the student who wrote, “It was pretty amazing to see how a simple discussion (which is part of a larger creative formula) could potentially help a brand find success in a new market.”

But a shadow day isn’t all about work – it was also an opportunity for Abchurch to shape the image of PR professionals among the next generation of graduates. We seem to have done well, at least in one young person’s mind. “When Dr. Groover told the class we are going to a PR firm my mind automatically made them stuck up PR people who don’t love their jobs. I was surprised with how professional and fun the experience was.”

She went on to say, “Public Relations is not my major, but the experience at Abchurch made me think differently of PR professionals.”

One of the most valuable outcomes of this visit is that students were able to see academic theory in action. One student noted, “Recently, I had to write a blog post about the use of different social media platforms in the workplace. It was interesting for me to see how the information that I had found on the topic aligned with that of Abchurch.”

Of course, there are going to be big differences between the classroom and the workplace, as noted by another student, “I have taken several public relations classes; therefore, I feel as if I am fully prepared for the writing part of public relations. However, class cannot prepare me for the actual business environment. I enjoyed seeing everything in action and learning about what working in a corporate public relations firm entails.”

Of course, every PR person knows you can’t give all your secrets away, as noted by one of our undergrad guests, “Though I could not figure out how [Jamie] managed to get his hair to look both tousled but put together, his presentation on social media messages was flawless.”

Overall, both sides seemed to have benefitted from the experience. Our young American friends gained some real-world experience but Abchurch was also reminded that young graduates, who have never had a more difficult time entering the workforce, offer something just as valuable as years of industry experience: fresh ideas that will shape the future of the PR profession.

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Asian Companies Listing on AIM

In the past few decades, the Chinese economy has experienced phenomenal growth. And while growth had since slowed, it can’t be ignored that in 2014, China became only the second country in history (after America) to achieve economic output in excess of $10 trillion. In fact, even at the current rate of growth, China expected to surpass the US as the world’s largest economy within the next two decades.

It is no wonder then that foreign investors have been looking for ways to benefit from the Chinese success story. And there are plenty of Chinese investment opportunities right here in the UK. SMEs in China have long struggled to secure capital from Chinese banks and that has sent them elsewhere, including London’s AIM market.

But more recently, the reputation of Chinese AIM listed companies has taken a serious hit. It seems that after a few scandals involving Chinese companies, the market has lost faith in all of them. The problem for most Chinese companies therefore seems to be the result of suspicion and rumour. Of course, this is unfair – the Quindell and Tesco scandals have not resulted in investors blacklisting every UK Company.

So the question is, what can Chinese companies do to increase their appeal to UK investors and continue to tap a valuable source of funding through the AIM market? The simple answer: Transparency. After all, the best way to quash suspicions and rumour is by getting the truth out. So for any Chinese companies listing in London, effectively communicating to potential investors from the beginning is critical – and there are plenty of ways to do this.

The suspicions surrounding Chinese companies listing in London are largely fuelled by a literal lack of visibility. So first and foremost, Chinese companies seeking admission to the London Stock Exchange need to bear in mind that potential investors are based abroad and therefore not able to directly observe the day to day operations of the business. Transparency, achieved in part through increased publicity, is therefore key to bolstering investor confidence.

But an effective communications program requires much more than reaching out to the UK national and investor press only briefly ahead of the IPO. Companies need to communicate through wider media outlets and for a longer period of time in the build up to Admission in order to achieve a successful and hopefully oversubscribed fundraising.

One way to do this is by launching Corporate profiling exercises on the home front. Even when targeting a predominantly overseas audience, the relevance of local and trade press coverage should not be underestimated before an IPO.

This is particularly salient for smaller companies. UK journalists are unlikely to have heard of an Asian based SME considering an AIM IPO. If British journalists can discover an existing profile through good trade and local press coverage (and where appropriate a social media profile) as they go online for further information, it will increase the likelihood of positive UK press coverage at IPO.

Local media coverage is also important for investors, as it plays a key role in reassuring their confidence. If a company attempts to promote itself amongst UK investors without an already established press profile, it could make a company’s story, no matter how compelling, harder to believe. And given the current climate of suspicion, that is risk Chinese companies simply can’t take.

Simply put, a proactive communications program is strong evidence of a company’s willingness to honour its commitment to new and existing shareholders. And, perhaps more importantly, increased transparency will help reassure investors and help regain trust of the market. This strategy will not only help Chinese companies: With London seeking to cement its status as the world’s leading financial centre there is simply no way investors here can dismiss companies operating in a country set to become the world’s economic powerhouse.

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Corporate Communications: The double-edged sword of Social Media

There’s a big reason why corporations should be monitoring social media. The Wall Street Journal recently reported on the increasing number of retail investors using social media to discuss and research their trades. The fact that the average investor can now easily access and share information about a stock means companies need to be aware of what is happening. Unlike the chatrooms often used by retail investors, social media reaches a much wider and mainstream audience.

Social media has undoubtedly changed the way the world communicates. So why are many corporations ignoring or misusing what is arguably the most influential means of communication in the twenty-first century?

The corporate communications industry has arguably been slow to embrace social media. Perhaps that’s because this channel of communication is not taken seriously enough – it’s often still associated with embarrassing Facebook profiles. But social media has evolved in the last decade to the point where a lack of social media strategy is not only a missed opportunity – it’s risky and perhaps even irresponsible.

Consider the many benefits of having a corporate social media presence. Social media can be used to respond swiftly, and very publicly, to an unforeseen crisis. The recent example of the GermanWings crash demonstrates this: The Company was able to immediately respond to media reports that one of its planes had lost contact, and they continued to use Twitter to update the public as soon as the information became available.

This points to perhaps one of the greatest benefits of social media for corporate communications: Control. Social media can and should be used to get the message you want out to a wider audience without an intermediary such as a journalist. Newsfeeds and blogs offer the opportunity to create, and control content on what a corporation is doing, how it does it and who is doing it. It increases transparency and is helpful for everyone – clients, investors, potential investors and the media.

Social media’s widespread reach is also why this channel of communication is a double-edged sword. Just ask the investment bank JP Morgan Chase, who once invited the public to “Tweet a Q using #AskJPM.” It was meant to give career advice but ended up going viral, with twitter users asking questions such as, “Did you have a specific number of people’s lives you needed to ruin before you considered your business model a success?” and “What section of the poor & disenfranchised have you yet to exploit for profit, & how are you working to address that?”

In the post-credit crunch era, it should have been obvious that this Twitter campaign was a bad idea. But that doesn’t mean JP Morgan should have avoided social media entirely. Social media is also a useful way to measure sentiment. This process of identifying and assessing what is being said about a corporation or brand is known as social media listening. Had JP Morgan done this first, it would have been able to predict the results of #AskJPM.

Simply put, a corporate communications strategy can’t ignore social media but also has to be very careful when it comes to execution. It gets down to the heart of the purpose of PR: Enhancing and protecting reputations. And in the digital era, it’s pretty obvious this can’t be done without a well thought out social media strategy.

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Weekly Wrap Up: Humility Before Profit

Could an incident that occurred a decade ago create more reputational damage now for the company involved than when the incident first occurred? This is arguably the case for Thomas Cook, who have been under immense pressure in recent weeks over their handling of the high-profile deaths of two children on holiday in Corfu in 2006.

The Independent’s view “a tragedy to a corporate disaster” has been widely voiced, with the public and media consensus being that Thomas Cook’s communications strategy is “too little too late”.

Timeline of events:

• April 2015 – Inquest begins into deaths of the Shepherd children.
• 13 May – Manny Fontenla-Novoa, CEO at the time of the tragedy, appears as a witness to the inquest but refuses to answer a series of questions. Peter Fankhauser, current CEO, tells inquest that Thomas Cook has done "nothing wrong". Inquest jury returns verdict of unlawful killing and says Thomas Cook "breached its duty of care".
• 17 May – Shepherd family reveals it received £350,000 in compensation from the hotel owners for their children’s deaths. It emerges later that day that the hotel paid Thomas Cook up to £3.5m in compensation.
• 18 May – Thomas Cook offers to pay compensation it received to Unicef and apologises to the family.
• 20 May – Fankhauser apologises to the family and says he is "deeply sorry".
• 21 May – Fankhauser meets with the parents face to face, giving a “sincere and heartfelt apology” and agrees to donate an undisclosed sum to six charities of the parents’ choice. In addition, the parents requested that the bungalow where the tragedy took place be demolished and replaced with a “lasting tribute” in the form of a playground.

Thomas Cook’s mistakes and subsequent quick fixes have caused immeasurable damage to the firm’s reputation and future value as they enter a crucial trading period. The Group would expect to be selling holidays to families gearing up for the summer break. Meanwhile, it has been reported that around £75m has been wiped off the company’s share price this week as investor’s dumped stock. Only time will tell whether the share price will recover. This will largely depend on any subsequent actions the Company take to stop the rot.

Fankauser has now done what his predecessor should have done back in 2006; given the parents a sincere apology.

Holly Ward, co-founder of The Forge commented: “As a nation we respond well to humility; even if Peter Fankhauser didn’t want to imply his company was to blame by offering an apology to the parents of Bobby and Christi Shepherd, a little humility would have gone a long way in showing his company actually cared. The Unicef donation smacked of a quick fix that missed its mark.”

The incident can serve as a lesson not only for Thomas Cook, but the majority of companies. Thomas Cook went far too much down the legal route, allowing its lawyers and bean counters to dictate how it dealt with a grieving family, instead of actioning a robust crisis communications plan, or having the inclination to do the right thing.

Julian Pike, Head of Reputation Management at Farrer & Co stated: “From the outset, Thomas Cook should have made the family its priority, irrespective of the legal advice or insurers' requirements. Its own financial wellbeing should also have come a long way second.”



This week, Abchaps hosted an Asia themed market lunch where economic opportunities in the region were explored and the potential impact on the London IPO market was discussed.



Andrew Penny joined EY from JP Morgan as Senior Advisor to its real estate corporate finance team; Judith Mackenzie, Partner at Acuity Capital and Senior Investment Manager at Aberdeen Asset Management Growth Capital, joined the board of Quoted Companies Alliance, whilst Kelly Tubman Hardy joined Hogan Lovells’ corporate practice in Baltimore from DLA Piper.



“Stop the rot”: to take action against something bad, before it spreads and becomes worse



If craft beer is your thing, head along to the Old Royal Naval College, and try over 80 different types of draft beer at Brewfest; Greenwich.

This weekend sees a particularly British pastime, with the Gloucestershire cheese rolling taking place, where you can throw yourself down a hill after Cheddar!

Finally, Kew Gardens is holding a Full of Spice festival, starting this weekend. With everything from a Strictly Spice dance-off to a pop up bar, this festival has everything.

Follow us on Twitter @AbchurchComms

Weekly Wrap Up: The Biggest Loser this Election

Before the polls even opened on Thursday, there was already a clear loser in the UK general election: banks. Regardless of which party takes power, it seems that UK bank earnings are set to be hit by a wave of new legislation that could result in a rising bank levy, ring-fencing of operations, and even capping of retail banking market shares.

To be clear, banks and individual bankers whose recklessness and criminal behaviour precipitated the financial crisis deserved to be punished. And yes, the government should play a strong role in ensuring economic stability and therefore has to keep an eye on the financial industry.

Some proposed policies aimed at banks suggest politicians have become irrational. How, for example, would a Labour Party proposal to increase the bank levy to support free childcare have prevented the next financial crisis? Tory plans to use the money from fines to create apprenticeships also suggest politicians are simply using this money for political gain. It’s no wonder then that the Institute for Fiscal Studies recently felt compelled to warn politicians against treating banks like a “cash cow”.

But still, banks have been remarkably silent when it comes to defending themselves against political attacks in the post credit crunch era. This is particularly surprising because many politicians were themselves complicit in creating the conditions that led to the financial crisis.

So perhaps it’s time for banks to change their PR strategy and speak up. Already there are rumblings: The Chief Executive of the British Bankers’ Association was recently quoted in the Financial Times reminding politicians that “Banking is by far Britain’s leading export industry, and one of its biggest taxpayers, but…it is very internationally mobile.”

But instead of running away, as HSBC and Standard Chartered have threatened, it would be refreshing to hear more about the value that the financial industry brings to the UK and how banks are working to prevent further bad behaviour. After all, the staggering fines paid by banks since the financial crisis are not just the result of overzealous politicians on a witch hunt – banking culture was clearly dysfunctional pre crunch.

According to the FT, most bank bosses recognize that the industry is not doing enough to convince sceptics it has changed. Increased transparency would be a step in the right direction since it would prevent people from coming to their own conclusions, which has been mostly that banks are still up to no good.

So it’s time for the banks to take back control of the narrative. Until now, it may have been easier for banks to remain silent and for the public to hate them, but in reality if the financial industry continues to be a political target the biggest loser in this election will ultimately be the UK economy.



This week, Abchaps have been networking across the continent with our global partners at IPREX’s Annual Meeting in Berlin. We also met CMS Advisory over breakfast, discussing the ever increasing importance of social media in the City. Our Market Lunch series continued unabated; with this generalist lunch as the last held before the election, understandably, politics was at the forefront of the agenda.



Richard Hughes joined Norton Rose Fulbright as a Partner in its banking and finance practice, having previously worked with Simmons & Simmons. Alistair Mackenzie joined Associate Sales Director at UBS Global Asset Management, from Curzon Capital. Finally Cavendish Corporate Finance appointed Kate Gibbon, David Harris, Victoria Clarke, and Nathan Harroch into its Corporate Finance team.



The Saatchi Gallery the annual Contemporary Craft Fair ‘2015 edition’, presenting 35 international galleries showcasing the most exciting examples of applied arts craftsmanship.

To all you wannabe Sir Bradley Wiggins’ out there, SPIN London – The Urban Cycling Show celebrates the urban cycling scene with international brands and smaller independent makers in fixed gear, single speed, custom and BMX bikes in attendance as well as emerging cycle fashion brands, cyclic artwork, talks, demonstrations and workshops.

If you happen to be having a stroll with your dog on Hampstead Heath this Sunday, then why not enter The Great Hampstead Bark Off 2015? With a dog-themed-cake bake off, a dog show, and prizes awarded in categories like ‘cutest pup’ and ‘best rescue’. The event, in association with charity All Dogs Matter, will also give you the chance to meet some lovely mutts in need of a new home.

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Weekly Wrap Up: Co-op’s Comeback: Value vs Values

The Co-operative Group, the UK’s biggest mutual owned by 8.5 million people, announced this week that it has returned to profit. This development will likely surprise anyone who remembers when chief executive Richard Pennycook was forced to admit that, '2013 was a disastrous year, the worst in our 150-year history'.

The Co-op, which once had funeral, pharmacy, insurance, banking and a supermarket among its businesses had lost a staggering £2.5 billion and faced the near collapse of its banking arm, which had a £1.5 billion hole in its finances. Former City minister Lord Myners, who resigned from the Group’s Board, blaming former managers, ‘who were allowed to run amok like kids in a sweet shop’.

If it wasn’t bad enough that mismanagement had almost run the mutual into the ground, there was also the matter of the Co-op Bank’s former Chairman Reverend Paul Flowers being charged with drug offences. The Group received extensive coverage not just on the business pages but across the front pages thanks to the so-called Crystal Methodist.

In short, it was a very public, very ugly meltdown.

The Group subsequently introduced a turnaround plan – Rescue, Rebuild, and Renew. So this week’s announcement that they are back in the black marks a major milestone for the troubled group: it’s the end of the Rescue phase of the program.

Now it remains to be seen if the Co-op can build on this momentum and successfully complete the turnaround. The group has returned to profit because it sold its pharmacy and farming businesses but there is still a lot of work to be done. What sets the Co-op apart from other businesses is that it promises that it is ‘not just about profit’. Before the Co-op became plagued by scandal, the Group’s 2012 accounts even stated, ‘In line with our member-owned model, investment decisions are not driven by the purely financial demands of shareholders, but by the wider concerns of our members’. And that promise is also exactly why this turnaround can’t just be about profit.

In order to restore its tarnished image, the Co-operative also has to find a way to regain the respect, loyalty and trust it once held. In other words, the comeback has to be as much about restoring these values as it is about restoring value to its businesses.



During this short Easter week, Abchaps hosted a Market Lunch, attended the Third Annual Nowruz Commission Gala Dinner at the Institute of Directors and caught up with Man Group.



Westhouse Securities announced that Andy Crossley will be joining as Managing Director from Peel Hunt. Meanwhile, Mike Falvey moves from Four Seasons Health Care to partner of the performance team at KPMG. Baring Asset Management also appointed Edmund Chong, previously of HSBC, as Head of Sales, Client Service and Business Development, distribution for Asia ex. Japan.



“Crystal Methodist” – A Methodist minister with a penchant for crystal meth and cocaine. A phrase whose origins can be traced back to the Daily Mail, if only because of the high number of headlines featuring the UK’s very own Crystal Methodist, Paul Flowers.



This Saturday is, of course, all about the Oxford Cambridge Boat Race. It's always quite the spectacle, so make sure you pick out a good spot along the river to watch the race unfurl. Not into the whole Oxbridge rivalry? Perhaps the Oxford Cambridge Goat Race is more your thing.

Head to the Garden Museum in Lambeth for an exhibition about the New Covent Garden Flower Market. Listen to excerpts of interviews about the market, what it’s like for people working there, the connection to the old Covent Garden Market and the changes that are happening now.

Grab a bargain on Sunday at Judy’s Affordable Vintage fair, at York Hall in Bethnal Green, with a selection of hand-picked stalls packed with affordable vintage fashion, accessories and homewares.

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Weekly Wrap Up: Minimise risk to your Corporate Reputation

The value of a good corporate reputation cannot be understated. It’s one of the main reasons businesses invest in communications and public relations. That’s why tracking media trends and watching for developments that signal risks, as well as opportunities, should be part of any corporate communications strategy.

This week there was a prime example of exactly why this matters so much. CEO of fashion retailer Next, Simon Wolfson, made headlines when he criticised an organisation dedicated to urging businesses to pay a so-called living wage. He claimed that £6.70 an hour is enough to live on for some people. Coming from a man titled Lord, worth an estimated £100 million and who took home a £4.6 million pay package last year, this out-of-touch comment would have been a PR disaster at the best of times. However, his outrageous remark came on the same day that Next posted bumper annual figures: pre-tax profit increased 12.5% to £794.8 million and the dividend rose by 16.3%. These results should, and probably would have, dominated media coverage of Next if not for Lord Wolfson’s poor judgement.

It would have helped if Lord Wolfson, or his communications advisors, had been paying attention to just how controversial living wage discussions have become. In the US, for example, Walmart and McDonald’s were among the major corporations that were villainised in the press due to their refusal to pay a living wage. Low paid employees at both companies even went on strike to demand a better wage.

Corporate missteps like this naturally generate plenty of bad publicity and are detrimental to an organisation. But arguably the worst part is that this damage could have easily been avoided by tracking recent media trends. If that had happened at Next, maybe they would have realised that someone who makes £4.6 million a year should refrain from providing “thought leadership” on the living wage debate.



This week Abchaps welcomed some of our UK IPREX partners to our offices, to discuss how our complementary services can further benefit our clients; joined Equity Development for an evening where they hosted three exciting and innovative company presentations within the media and technology sector for the City and PCIM community; and also attended Gorkana’s breakfast briefing, hosted by Director magazine. This newly relaunched title offers a direct line to C-Suite occupiers, and with its new look, Director does away with the usually drab vision of the board room.



Simon MacKinnon has been appointed Asia strategy adviser at the asset management firm Old Mutual Global Investors. Panmure Gordon has hired Patric Johnson as head of securities. He will also serve on Panmure’s Board.



“Living wage” - the amount an individual needs to earn to cover the basic costs of living. So maybe Lord Wolfson does know a thing or two about a living wage? His £4.6 million pay package should be just about enough to survive in London.



What says Hipster more than food served from a van? Get your kicks this weekend at Urban Food Fest, a revolving cast of food stalls and trucks serving a UN worth list of food cultures. All taking place in a Shoreditch car park, it could only be more zeitgeist if it came with a moustache.

Continuing the theme of facial hirsuteness, it is currently impossible to be more than six feet from a man with facial topiary. Love it or hate it, it has become part of our culture. So celebrate or castigate at Somerset House, whose exhibition Beard is open until Sunday.

Benedict Cumberbatch may have been taken off the market, but the Museum of London is still offering the opportunity to Sleep with Sherlock. Included in this all night event are a plethora of themed opportunities, ranging from a three course dinner, talks from detective specialists, right through to ghost stories told in the depths of the museum.

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Weekly Wrap Up: This will blow your mind

With a headline like that, how could you NOT read this blog post? After all, that’s the point of click bait, the internet phenomenon made popular by websites such as Upworthy and Buzzfeed. Click bait essentially exploits the curiosity gap by omitting a key piece of information to entice someone to click and/or keep reading.

The digital era has created a wealth of opportunity to reach a much wider audience. But there has also been a struggle to understand how, exactly, one should go about doing so. This is certainly true for the PR industry, but also for traditional news organizations and even businesses, and it makes the extraordinary success of the click bait strategy all the more enviable.

So it came as somewhat of a surprise this week when Business Insider reported that Upworthy's cofounder Peter Koechley apologized for the sensational headlines that made him rich – and his website famous - at the Guardian's Changing Media Summit in London this week. Going forward, he’s saying “good-bye to click bait”.

Upworthy successfully embraced the digital disruption – so why change strategy now?

The problem with Upworthy’s click bait headlines is that they tend to over promise and then under deliver. And eventually readers will catch on and stop falling for the same trick.

On the other hand, if your headline is incredibly boring it doesn’t matter if your content over delivers – no one will bother reading it. That’s exactly why click bait headlines shouldn’t be so easily dismissed. They do offer something. After all, they get people reading.

So here’s where your mind is blown: the solution is actually quite simple, and Koechley pointed to it at the Guardian event. He went on to say that Upworthy’s new approach would include sharing powerful stories “…that put you in someone else's shoes to help you see the world in other people's eyes."

The Upworthy example underscores that any piece of writing in the digital era – whether it’s a press release, news article or even blog post - needs to not only capture a reader’s attention but also deliver on content.

So go ahead and write an intriguing headline that sparks interest – just make sure your writing actually fills that curiosity gap.



This week Abchurch hosted two successful market lunches and had insightful discussions with City advisers on the sentiments of the IPO market and the potential effect the 2015 election will have. We also hosted the Allenby Capital team for an enjoyable evening, as well as travelling to Newcastle to celebrate Quantum Pharma’s successful floatation on AIM party.



Investec Investment Banking appointed Serge Rissi as a director of financial sponsor transaction group, whilst Sarah Owen-Jones joined Rathbone Brothers as chief risk officer from RBS. Meanwhile, Baker Tilly appointed Rowan Williams as head of its professional services group.



"Click bait" – exploiting the curiosity gap by omitting a key piece of information to entice someone to click and/or keep reading.



If you are a beer drinker, you can’t miss this weekend Over the Hop Festival at the White Horse in Parsons Green. There will be live music, an outdoor BBQ and Six Nations screenings on Saturday.

Fancy a bit of Asia this weekend? Silk Road travels to Marylebone for one long weekend. The seventh annual Asia House Fair will feature dozens of exhibitors that represent the best in arts, crafts, fashion and design from across the pan-Asia region.

Whether you are a rugby lover or hater, the Six Nations Championship concludes on Saturday with three teams (Ireland, Wales & England) in contention for first place. Italy play Wales first at 12.30, followed by Scotland versus Ireland at 14.30, with finally England playing France at 17:30. If you are a rugby hater, we would recommend avoiding the pubs at those times!

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Is PR ready for the digital revolution?

Humankind has benefitted immeasurably from change and progress, and there is perhaps no greater example than the industrial revolution. But there are always winners and losers when it comes to change and progress. And that is important to remember now that we are in the third industrial revolution – the digital one.

The challenges of the digital revolution are already evident: it has become a ‘disrupt or be disrupted’ world. And that is as true for the PR industry as any other.

But just as the digital revolution brings new challenges to the PR industry, it also brings new opportunities. And Abchurch recently participated in an event that did an excellent job of highlighting these opportunities.

Abchurch is a member of IPREX, a network of communication agencies with over 100 offices worldwide. Last week, members of many of these agencies gathered in London for the 2015 IPREX Global Leadership Conference. The theme of the Conference was Beyond Silos: Operating and managing in an integrated communication industry.

One of the major topics at the conference was the changing media landscape, which is of course a result of the digital revolution. The event kicked off with a very insightful presentation by Arun Sudhaman, editor-in-chief of the Holmes Report. He discussed the period of change the PR industry is currently undergoing and how agencies can capitalise on these new opportunities. Arun pointed out, quite rightly, that if PR agencies don’t ‘future proof’ themselves they will become irrelevant.

It was also incredibly helpful to see how IPREX partners from around the world are tackling the challenges that arise in the digital era. Based on what was presented at the conference, it’s safe to assume that many IPREX partners are already winners of the digital revolution. There were plenty of examples that demonstrated just how much innovation benefits the communications industry. Although traditional forms of print media and editorial coverage are becoming scarcer, social media creates new opportunities, whether delivering information, creating buzz by pre-empting traditional media coverage or even creating and publishing content for clients. These initiatives by our IPREX partners proved they won’t become the blackberries of the PR industry.

One of the key takeaways of the conference is that a digital silo isn’t enough – the PR industry has to fully embrace the digital revolution to stay relevant. Change can be scary, but here at Abchurch we are embracing the opportunities digital innovation is bringing to the PR industry.

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Weekly Wrap Up: Steering tech coverage in the right direction

It looks like soon Britons won’t have to worry about driving home from the pub after having had a few too many. At least that’s what the Daily Mail coverage of the UK Government’s decision to allow driverless cars to be tested on public roads suggests.

In case you missed this story, the self-driving vehicles that will be seen in the UK as of next summer are like traditional cars but can also sense their environment and navigate without human input. The driverless cars that will be tested on UK roads, however, will be required to have a fully qualified test driver who could take over, should anything go awry.

Still, the Daily Mail jumped on the news, writing that occupants of driverless cars, “…won’t even need a driving license. And even those now considered ‘unfit’ to drive will be eligible.” In the same article, the writer eventually concedes that current laws actually prohibit this, but not without mentioning that this could change in the future.

And it wasn’t just the Daily Mail that presented driverless technology in the most horrifying way possible. The Telegraph responded with a headline asking, “Driverless cars sound great, but can we stop the sat nav driving us off bridges first?”

This headline refers to concern about whether vehicles controlled by software can be hacked, causing cars to crash into each other or “drive off a bridge”. Then again, human driven cars already crash and there’s no software update that will ever prevent this.

The press coverage of this new technology demonstrates how much the media enjoys a good technology scare story. Findings by the Pew Research Centre, an American think-tank, support this theory: research shows that the press has a tendency to express wariness about the effects of technology on our lives. In other words, it’s common for the press to take the “robots are taking over” angle when it comes to reporting on technology. This is certainly true for the coverage of driverless cars in the UK, and exactly why it’s especially important for technology to be presented in a way that showcases the benefits, of which there are usually many.

The truth about driverless cars is that they won’t just make life easier by perhaps allowing people to have a few drinks before getting behind the wheel, or reading, surfing the internet and even taking a nap all while driving – these cars will actually save lives.

In reality cars with a human driver behind the wheel are the real danger: a staggering 90% of car crashes are caused by human error. That is one of the main reasons the UK insurance industry supports driverless technology.

Consider airplanes for a moment: It’s a well-known fact that you are much more likely to die in a car crash on the way to the airport than you are in a plane crash. That’s mainly due to the fact that airplane technology has advanced considerably in recent decades that planes basically fly themselves on auto-pilot, except at take-off and landing. In recent years almost all plane crashes have been due to human error, not the auto-pilot.

Furthermore it’s not just airplanes that have been improved by technology: Driverless underground systems already exist all over the world. And while this technology was met with resistance, it has proven to be safe and cost efficient.

In addition to significantly improving safety, driverless cars would be a boon to the British economy if this technology was developed here and exported. The industry is expected to be worth £900 billion by 2025, which is why the UK government wants to embrace the technology. The value of British car exports has nearly doubled in the past decade, but it could become vital to embrace driverless technology in order to maintain this momentum.

In short, driverless cars are poised to significantly improve our lives. However the negative media coverage seems to be having a significant impact on public opinion: 48% of the population would be unwilling to “drive” an autonomous vehicle, according to a survey by the price comparison website uSwitch.com. Of those surveyed, 16% were “horrified” merely by the idea of a driverless car.

There is an important lesson in the media coverage of driverless cars for tech companies: technology is an easy target for scaremongering. This is true not just for driverless cars, but all technology that will result in significant change, regardless of whether that change is positive or negative. When the media gets a hold of a good scare story, the facts can often become muddled. So the best approach for tech companies is to get ahead of the story and steer it in the right direction because even when it comes to reporting the facts, it’s almost always human error that results in disaster.



This week Abchaps attended the CIPR Speaker lunch where Chris Blackhurst of the Independent and Evening Standard was guest speaker. The event was very informative, discussing topics ranging from the future of journalism to current affairs. We also enjoyed an evening at the 48 Group Club Chinese New Year Icebreaker dinner.



Cantor Fitzgerald announced Deven Sthankiya as new managing director in its debt capital markets team. This appointment sees him move from HSBC. Edison, the investment intelligence firm added David Stoddart, Victoria Pease and Sara Welford to its research team. Finally, Robin Wilson, previously of Rightmove, was appointed Taylor Wessing’s new chief operating officer.



“Scare story” – the media’s tendency to take an issue wildly out of context in order to generate headlines.



Held almost every year since 1854, The Royal Photographic Society’s International Print Exhibition is the longest-running display of its kind in the world. With plenty of novelty on show, the photography ranges from documentary to natural history. The exhibition is free to view for people attending Royal Albert Hall performances or can be visited for free by the general public between 10am and 1pm on Saturday February 14.

Another exhibition, promising to be extremely thought provoking, is Mapping the City at Somerset House. This display of cartographic representations will allow you a glimpse of how more than 50 internationally recognised artists, from the graffiti and street art scenes, view the home towns they use as their canvas. Using digital technologies, illustration, sculpture, paintings, video presentations and even performances, its a very contemporary way to view cities from around the world.

Are you fan of Sunday’s involving kicking back and watching a good film? Head to the Barbican cinema where there’s a screening of The Hound of the Baskervilles (1921), with a live piano accompaniment by Neil Brand.

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Weekly Wrap Up: McDonald’s turnaround

To say that the world’s most famous fast food chain, McDonald’s, is in financial trouble might seem a gross exaggeration. However the US giant is certainly in an unfamiliar and uncomfortable position. In 2014, the Company recorded its first annual decline in global same-store sales in a dozen years.

The tip of the iceberg (lettuce) is their most recent announcement stating that British Steve Easterbrook will replace current Chief Executive, Don Thompson in March. The Brit will have to find a way to turn around one of the biggest challenges the $87bn company has faced in its 60-year history.

During the recession, the company profited from customer demand to eat cheaply, as well as staff that were happy to put up with low wages, simply glad to have a job. A couple of years later however, America witnessed strikes by its lowest-paid workers, which included Mcdonald’s. Due to the Company’s global status, it was one of the most targeted by the media. And because of their initial refusal to increase wages, they were also one of the worst affected. It angered some regular customers, who took their money elsewhere. This, along with a failed PR twitter campaign in 2012, ‘Tell us what you think of us’, begins to answer another question – why are McDonald’s struggling?

In recent years, Mcdonald’s has found more and more competitors encroaching on their turf. In addition, the shape of the market is changing. Consumers are no longer interested in food that is just fast – amongst other things, they want healthy, fresh and natural. The consumer is willing to pay more, changing ‘fast food’ into what is becoming known as ‘fast-casual’ food.

McDonald’s are falling behind competitors in an overcrowded market. However, the company has introduced campaigns over the years promoting fresh produce or healthy salads. And they are currently running a transparency campaign to give more insight into how their food is made and what goes into it. Predictably, this has brought even more negative press, as the horror of what goes into their food has been revealed.

It seems that McDonald’s should delve deeper into their brand positioning to redefine their 60-year old reputation. As the Company’s former Chief Brand Officer in charge of marketing and menu innovation, Easterbrook seems perfectly tooled to take on this challenge. Perhaps cleaner processes, less junk and better quality ingredients will finally be on the menu. Single figure ingredients for their fries would be a start.



This week, Abchaps welcomed London and West Country Lawyers Thrings to our Sky Bar to exchange our shared areas of expertise. We also hosted a Market Lunch where the outlook and opportunities of AIM was discussed.



Panmure Gordon made two appointments to its research team: Jonathan Leinster as consumer analyst from UBS and Mike Stewart, formerly of Shore Capital, as retail analyst. Erik Anderson, previously of Investec, is joining its corporate broking team. Meanwhile, at Hamlins, Charles Bezzant has been appointed as partner, and he joins from Reed Smith.



"Fast-casual": A fast-casual restaurant is a type of restaurant that does not offer full table service, but promises a higher quality of food with fewer frozen or processed ingredients than a fast-food restaurant.



This weekend, see the inside of one of London’s most iconic film sets. Aldwych tube station has been used in Atonement, V for Vendetta, and Bond, and this weekend is being opened by the London Transport Museum for a rare insight into London’s past.

From underground to up in the air, London is currently playing host to the inimitable Cirque du Soleil, with their new show, Kooza, tickets are still available, but they’re going fast.

Finally, as only Shoreditch can, Floripa is holding a carnival brunch from 12pm – 6pm, promising beach burgers, samba, and potentially some margharita’s!

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