Weekly Wrap Up: Throwback to 1999

The financial world is, on the surface, abuzz this week as the FTSE 100 broke two records that have stood for over 15 years. On Tuesday, the FTSE 100 reached a new intraday high of 6,958.89 and also bettered its previous closing record by finishing the day at 6,949.63. While this is undoubtedly good news, undertones of uncertainty remain over what the repercussions of this success might be.

There is currently a great deal of talk about the strong tech start-up bubble that is forming around London. In 1999, Britain was in the peak of the dotcom boom, with telecoms and technology firms accounting for 23.4pc of the FTSE 100 index. However, that figure has now fallen to just 6.7pc. Nowadays, the index is dominated by raw materials: between them, the oil & gas and mining sectors account for 22pc of the FTSE compared with 15.1pc at the turn of the century. This shows that for a start, to compare the two periods is difficult due to the fact that the FTSE 100 is very different to the one in 1999.

But what does this new all-time high really mean for the real world? Guy Ellison, head of equities at Investec Wealth & Investment, said that the record is largely “symbolic” and that the London index is likely to kick higher in coming trading sessions. This was proved yesterday when the FTSE reached a new closing high of 6,949.73 – helped by a surge in the share price of the Asian focused bank Standard Chartered who announced the appointment of new Chief Executive, former JP Morgan investment bank boss Bill Winters.

Many will breathe a sigh of relief with the new records. As they have been so long in the making, the event holds great psychological significance, seeming to draw a line under the duel traumas of the dotcom bubble burst and the financial crisis. However this has led to speculation that the highs of the FTSE are a sign of a bubble, meaning that the burst might be around the corner. Peter Sullivan, head of European equity strategy at HSBC, said the new record “inevitably raises questions about how sustainable it is and whether it has got ahead of itself. Is this a sell signal? Absolutely not in our view.” Another reason why the 2015 high cannot be compared to 1999 is that the earnings picture is completely different. Sullivan adds that “earnings are 99pc higher than they were in 1999” meaning that we should be pleased and not worried that the FTSE is back to its best. Current earnings mean that we can start to worry when the index nears 10,000, which, according to Professors Elroy Dimson and Paul Marsh and Dr Mike Staunton of London Business School, has a 50pc probability of happening by the end of 2022 and a 50pc chance it will take longer



This week Abchaps hosted a market lunch, and enjoyed Shore Capital’s wine tasting wine event. The team is also hosting and attending the IPREX Global Leadership Conference in London, where our partners from all over the world are coming together to discuss integrating a wide range of modern services, channels and techniques in pursuit of client results and agency success.



Olswang appointed senior corporate TMT partner Mark Bertram as head of corporate, who has been at the firm since 2007. Charlie Jolly became accountancy firm Baker Tilly’s head of private equity, whilst Jurga McCluskey joined Deloitte from PwC as partner and head of its UK immigration practice.



A monthly late opening of the Natural History Museum and temporary exhibitions continues tonight. This event includes free entry to the Central Hall and Images of Nature gallery, changing discussions on timely themes, open-mic performances by up and coming musicians throughout the evening and British farmers’-market style food and drink in the pop-up restaurant.

For sports lovers, the Six Nations Championship is back on our screens this weekend with Scotland playing Italy (at the moment for the wooden spoon) and France versing Wales, both on Saturday. Then pick between the possible Championship decider on Sunday with England playing Ireland or choose to watch the footy, as Chelsea and Tottenham fight for the first major trophy of the football season, the Capital One Cup.

If you want a trip back in time on Sunday, head to Judy’s Affordable Vintage Fair at Lambeth Town Hall in Brixton. Browse hand-picked stalls packed with affordable vintage fashion, accessories and homewares.

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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: The Communications of Switching

This week saw a new figure hit the headlines: 1.2 million people have switched their current accounts since September 2013.

This comes one year on from the launch of the Government’s scheme to encourage consumers to switch their banking current accounts by reducing the time that it takes to switch bank accounts from 30 days to just seven.

As detailed in the Payment Council’s annual report, switching levels are up 22% on last year, with some banks winning new customers - Halifax, Santander and Nationwide - and some, inevitably, losing customers - NatWest, Barclays, HSBC and Lloyds.

This rise in consumer switching has been hailed as a success story of a scheme that is going to plan, or so according to George Osborne.

There are many benefits that have been discussed as rising from the growth of consumers switching their current accounts:
1) Accountability: The Daily Mail has suggested that this switching is the public’s way of “punishing” the banks for the mistakes of pre and post-2008
2) Competitive rates: In order to woo potential new customers and to retain existing customers, banks are now offering more customers more competitive rates and incentives
 3) Entrepreneurialism: With increased switching comes the opportunity for new companies to appear and succeed. This has been seen in the banking industry with so-called “challenger banks”, and is also being seen in the energy industry with the growth of alternative energy providers

So to what can we attribute this switching?

The most obvious answer is the governmental support that this scheme has received; a call to action from the powers that be which made headlines by suggesting that consumers deserve better.

But we in the communications industry would like to suggest that another big reason as to why the scheme was so well received is the act of communicating itself, both online and in the press. Whereas previously it was more likely that “a man would divorce his wife than switch his bank account”, due to the fact that it was unheard of and very difficult to switch, this scheme has not only made it easier but also more common for bank customers to question the product that they have been receiving and to look around at other options.

Whilst some have said that this 1.2 million is a modest figure, the BBC reported that 69% of consumers are now aware that they have the ability to switch due to the launch of the scheme.

This scheme has come at a time when consumer understanding and empowerment is of utmost importance. Whether that be regarding current accounts, energy bills or phone tariffs, consumers are now being given the necessary information and comparison tools to take more control over their own finances and help them live their lives more efficiently. Consumer price comparison websites such as moneysavingexpert.com have become hugely popular in recent years for just this reason, as have debates about preferred providers on social media.

The communications industry sits at the heart of this new information era, with information about new schemes and alternative providers being disseminated through national, trade and technical press, as well as through websites and social media. Companies seeking to ensure that their voice is still heard and that their commercial and financial case is still shared must therefore be keen and willing to engage with communications so as to ensure that they are not on the losing side of the market. Companies must also learn to listen and respond to the comments of their customers or face losing them to competitors.

In years gone by, customer switching and the need for communication were not in the mind of the corporate. Today, however, customers are on the lookout and companies must fight (and shout) to keep them…



The cold may be setting in but Abchaps are still out and about! We met up with some of our favourite journalists at Bloomberg and Dow Jones this week to get their take on the somewhat ‘choppy’ markets. We also caught up with the team at Daniel Stewart over a few glasses at our favourite local. We work very closely with a number of their team, and so it was fantastic so get everyone together again.



Investec has hired Christian Hess to head its financial sponsor transaction group. Christian was previously a partner at Compass Partners and the founder of Hess & Co International. Warren Mead has been appointed the head of challenger banking and alternative finance at KPMG, where he worked for 15 years. Robin Baillie has joined law firm Squire Patton Boggs as a global projects and real estate partner. Robin was previously a partner at Nabarro.



"Uswitch": an energy price comparison website helping consumers find the best energy deals on the market. Websites such as these heavily drive consumer switching

Frieze London, the contemporary art fair, is taking place in Regents Park.  Frieze is expected to draw in the world’s rich and famous and it is anticipated that they will spend millions on different works. The art fair has gained enormous popularity of recent years but the organisers have capped admission to 70,000 over the course of the event as it is unable to expand. The nearby illustrious and plush streets of Marylebone and Mayfair are expected be net gainers of the elite who will pile into its restaurants, cafes and hotels. 

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Weekly Wrap Up: Federer, Bouchard & Business

The past week has certainly been an eventful one for sports fans. Whilst football is still undeniably dominating the sports scene, many turned their attentions to the Wimbledon finals. This year’s Wimbledon men’s single final was certainly an exciting one for tennis lovers; 17 Grand Slam Champion Roger Federer was again competing in the finals against 27-year old Serbian player Novak Djokovic. The cheering at the venue clearly indicated that many more took side to support Federer. It was as if the crowds wished to see the legendary player winning one more Grand Slam title before his retirement, as opposed to the junior Djokovic with a long career ahead of him.

However, the women’s game was quite a different story, with 21-year old Eugenie Bouchard gaining much attention. The attention was hardly surprising as Bouchard possesses all the qualities to receive the likes of the media; she is exceptionally good looking and she entered the Wimbledon finals after having played in the Grand Slam major draws for just 14 months. The media has even been speculating about the birth of another Maria Sharapova, a woman who just ten years ago defeated Serena Williams at the age of seventeen, laying down her foundation of becoming one of the most discussed sports stars in history.



It is interesting to see how the media’s speculation about the world of technology very much resembles that of the world of sports. Leaders of the largest companies in history, including Facebook’s founder Mark Zuckerberg and the Google brothers Larry Page and Sergey Brin, are still some of the most celebrated personalities in media history. To a certain extent, the popularity of their brands is very often built upon the company and the individual's success, with many die-hard fans caring more about the success of the company in question than with the actual products being sold.

On the other hand, startups are increasingly dominating the media. The success stories of companies who have blossomed out of nowhere are nowadays just as likely, if not more, to receive media attention than the more established companies with steady incomes and long-term customers. In the UK, titles such as “Silicon Roundabout” and “Tech City” have become everyday words for the business press.

This week, for example, Google’s venture funding arm announced that it is setting up a $100m investment fund in London to invest in tech companies in Europe. Despite being incredibly high risk, venture funds have become increasingly active, and this announcement demonstrates the confidence that Google has in the startups of the world. Google was suitable rewarded for its startup focus; the media praise of Google’s risk-taking and “supporting the underdog” was bountiful.

Looking back at the examples of Federer and Bouchard, it is very clear that the press’s favour cannot be predicted or pigeon-holed. Whilst journalists are intrigued and keen to report on the entrepreneurs, innovators and startups of the new world, there is still a great appreciation for the more traditional beasts that time has proven are successful and worthy of praise.



Having made a series of appointments in recent months, Cantor Fitzgerald Europe further boosted its team with the appointment of Eric Bourguignon as Director of Consumer and Retail for its corporate finance division. Meanwhile, Neil Cullum, Head of Banking at the Accountancy and Investment management group at Smith & Williamson is due to retire at the end of this month. He will be replaced by Peter Mitchell, former Chief Executive Officer at CAF Bank. Walker Crips Investment and Wealth management Group also recruited two Barclays Wealth veterans in the form of Steven Moss and Mark Entwistle; both will be stockbrokers.



“A business beast” – A well-established and substantial corporation, possible a business that is steeped in history and tradition.



Missing the adrenaline rush of the annual school sports day’s ‘egg and spoon’ race? Not to fear. Head to Bedford Square for The Chap Olympiad where dapper attire is a must and you can take part in events such as breadbasket ball, passing the port, umbrella jousting, bakewell battles and that old favourite; The Tug Of Hair Competition.

If you are in need of some pre-game sustenance, then we suggest spending your Sunday lunch time at The Truscott Arms in Maida Vale. This Victorian pub not only does a mean Yorkshire Pudding, but they offer a whole Gluten Free roast!

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Weekly Wrap Up: The Uber Battle of Trafalgar

For a City famed for constantly being on the go, London was forcefully made to “go slow” this week as nearly 5,000 London cab drivers drew their vehicles to a halt in Trafalgar Square.

The protesters were speaking out against new smart phone app Uber, which allows Londoners to flag the nearest cab available using Geo-tagging, as well as estimate how much their fare will cost.

Whilst the former aspect of the app may be good for cabbies – the method reduces their dependency on commission charging taxi operators. The protesters were complaining that the fare estimation tool forces them to sell their services for less. Their basis for complaint was that, by law, fare calculating devices known as “taximeters” are only allowed to be calculated by black cabs, and that the Uber app could constitute a taximeter by pre-calculating a cab fare.

Unfortunately, the protest didn't have the desired effect of tarring the app’s reputation; Thursday’s papers were filled with stories of how the operators of Uber app had seen an 850% jump in registrations on the day of the protest due to the number of Londoners who discovered the app through the protest. Indeed one Tory minister, Matt Hancock, tweeted that he had never heard about the #Uber app, but that he thought it was “awesome”. The EU digital affairs commissioner Neelie Kros became the app’s champion by lauding the its innovation and the industry of disruptive technology.

This 850% spike was a rather predictable result. Within reason, all PR is good PR, and Uber simply couldn’t have paid for the paper (and even broadcast) space that the protest’s coverage gave them. One might even go so far as to suggest that this whole protest was orchestrated by Uber with the intention of raising their profile internationally and nationally.

Let us go one step further. Beyond the increase in registrations, what long-term impact could the cabbies’ strike have on the world of disruptive apps such as Uber?

Whilst the British population was busy marvelling at the effect of the protest and downloading the offending app, America (homeland of San Francisco based Uber) was allowing the spiders of cynicism to creep onto the internet waves. At 3pm on Thursday afternoon Ellen Huet of Forbes magazine reported that The California Public Utilities Commission has warned apps like Uber in a stern letter that they are no longer allowed to take riders to or from any Californian airport.

This story serves as a reminder that the eye of regulation is upon disruptive technologies such as these, and as such they could face barriers to their development in the future.

The protest may have been beneficial to Uber in the short-term, but the publicity that the protest achieved has now raised the question as to how far apps and disruptive technologies should be able to interfere with other services, and whether regulation should be stepping in to control this interference.

As we have seen from the markets in recent months, the growth of digital technologies such as Twitter and Uber is incredibly dependent on ever increasing user-ship; Twitter’s share price has been falling amid fears of slowing user growth. If regulation does prove to threaten the future take-up of apps such as Uber, it could be hugely damaging for the future reputation of these apps by “potentially thinning profits and making it hard for Uber to justify its valuation” (CBSnews.com).

This week’s protest raised an issue that went beyond the confines of London’s famous black cabs. Although this year’s 'Battle of Trafalgar' may have been won by the defender, in time it may prove to simply be the start of a greater war against technology.



Abchaps have been out and about on an international scale this week, attending the LSE Greater China Forum in Hong Kong, taking the opportunity to catch up with our clients and advisers who operate out there. Abchaps also caught up with London’s top advisers at the LSE Summer Adviser Drinks, wonderfully hosted across the road on Threadneedle Street. Ever with the media in mind, we got the low down from Richard Fletcher, Business Editor at The Times, at the CIPR lunch briefing this week too.

As always, two of the famous Abchurch Market Lunches saw an interesting array of guests sit down to discuss market trends and opportunities; thank you to our guests for your insightful contributions!



This week Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) at UBS. He joins from Deutsche Bank. David Bettesworth, previously of Deloitte, was appointed head of insurance and investment management advisory at PwC in London. Also, Vicki Harris has joined Aldermore from Octopus Investments as group strategy and marketing director.



“Black PR” – The process of destroying the target’s reputation and / or corporate identity.



Make the most of the sun this weekend. The More London Free Festival is in its 12th year and intends to celebrate! There is a 4-day street party which will see 5 different cultures show us the best of their food and fun on the South Bank- give it a try!

If you are a footie fan then you can catch the games at most London pubs, but we’ve heard about a few hidden gems. If you are central, head to Anthologist and if you want to enjoy the sun whilst keeping up to date with the Brazilian antics, then head to The Round House near Charring Cross Tube. Come on England!

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Weekly Wrap Up: Man Utd, Moyes & Market Movements

What's the difference between the four pieces of news that the City’s advisers, investors and market makers awoke to during the course of this week?

1. “Glencore Xstrata PLC (GLEN) has signed an agreement for the sale of its entire interest in the Las Bambas copper mine”

2. “French Connection Group PLC (FCCN), in the 11 weeks to 12 April 2014, have seen UK/Europe LFL’s up 11%”

3. “AstraZeneca PLC (AZN) report that Profit Before Tax falls by 50% Q1 of 2014 to £380m”

4. “Manchester United Plc (MANU) sack Manager, Moyes, after just 10 months”

Answer:

Nothing.

Or at least that is the view taken by the regulators of our capital markets.

Whilst all four announcements were of interest to advisers and investors alike and significantly affected the share price of the publically listed companies they related to, only three were announced to the market before the media were approached.

Following the football club Manchester United Plc’s announcement that it was to part ways with Mr Moyes on Tuesday, their share price jumped 7%. As a result, the New York Stock Exchange was considering launching a formal investigation into the sacking of Moyes and the way that it was communicated to the market.

It has since been reported that no formal action will be taken by the NYSE, and the club firmly deny that they breached regulations in any way. But what lesson can be learnt here?

Rules dictate that regulators must be notified and the market informed of any major changes or news that could affect a company’s share price before the media is informed. Clearly, Manchester United Plc didn't do this. The rules have been set in place to ensure that all audiences and investors are treated fairly. No advantage should be given to the lucky few who pick up a particular newspaper or tweet over breakfast, enabling them to act upon the news earlier than those who, for example, prefer to listen to Chris Evans and his golden oldies on BBC Radio 2 in the morning.

Manchester United is, in most people’s eyes, a football club first and foremost (rather than simply an investment opportunity). Perhaps the decision of how to release the news about Mr Moyes reflects the tendency of companies to value their traditional audiences over their investor audiences.

As the number of consumer-facing companies coming to market continues to increase, careful attention will need to be paid as to how they communicate corporate news, especially if said news could affect the share price and the shareholders.

It is essential that CEOs and companies operating in public markets continue to seek the advice of those who have often made the tight and often tricky call about news releases before letting the cat slip out of the proverbial bag.



This week's Market Lunch discussed the recent flurry of Technology movements across the globe. Abchaps also learnt a great deal about the future of Energy Saving Companies at EcoConnect’s Green in the City Event, hosted by Squire Sanders. We also enjoyed a very cultural evening at EY's lecture series on Sikh Art with Jasleen Kandhari.



“RNS” – The London Stock Exchange’s Regulatory News Service: Any piece of Company news that could affect the share price (such as a Board Appointment or acquisition) should be released on this service before being released to the media.



Reminiscent for a time when British music was “swinging”? The Blitz Party, an event to celebrate the World War II-era hits of Glenn Miller and Dame Vera Lynne, is being held this Saturday evening down in Shoreditch. Head along to this event where ration-book menus, wartime films and uniform costumes will transport you back in time.

In a sophisticated celebration of St George’s day, on Sunday the Royal Albert Hall will be hosting an afternoon of classics performed by the Royal Choral Society and Royal Philharmonic Concert Orchestra. Head on down to this famous London landmark to enjoy patriotic music, readings and a selection of poems.

Weekly Wrap Up: George's Re-borne Popularity

Oh what a difference a day makes...

Once more, George Osborne emerged from the door of 10 Downing Street to present the Spring budget, clutching the box that has so often caused City-folk and the public alike to see red with anger.

As usual, the press were gathered; crowded around like a pack of hyenas ready to set upon and tear apart Osborne’s carefully worded document.

However it was not a shade of red that the City saw on this occasion but a fine shade of sky-blue, indicative of a budget and economy finally enjoying a sunny outlook.

It is easy to see why; the world of corporate is set to become markedly easier - the budget for exports is to be increased to £3bn, the Annual Investment Allowance for companies increased to £500,000, and R&D will receive a boost in the form of £220m and a 3.5% raise in the rate of cash credit payable to loss-making SMEs conducting R&D which do not have corporation tax liabilities.

Perhaps one of the most interesting aspects of this week’s budget was not what the budget contained, however, but the effect that it had on the reputation of its owner. George Osborne’s has had a notoriously negative reception in the press over the past few years, battling to maintain composure with a struggling economy. Who could forget the coverage surrounding the “Omnishambles” of 2012 and the famously controversial “pasty tax”?

After the release of this rather more popular budget, however, it seems that Osborne has become the flavour of the month - on Friday morning The Sun published an article on how Osborne’s popularity is on the rise following the budget, with 37 of voters saying that he is doing a good job as Chancellor. This was a marked improvement on the figures released just a couple of months ago that painted Osborne as a man disliked.

Even Alistair Heath, City AM’s rather out-spoken editor, tweeted an unusually supportive article on Friday morning:

@AllisterHeath: My @cityam column: Labour would be mad to oppose George Osborne’s great pensions liberation http://www.cityam.com/article/1395365346/labour-would-be-mad-oppose-osborne-s-pensions-liberation …

So what is the underlying cause of Osborne’s new popularity? Is the public now recognising a job well done? Or is it just the warm, fuzzy feeling of an economy back on track which Osborne is lucky to be sitting at the centre of?

To some extent Osborne’s popularity will be due to both. He has dealt the British economy a good hand and so should be able to savour a brief moment of good favour. But it is also clear that his sudden lurch in popularity is the side-product of the British economy gaining momentum.

This week’s good news should serve as a lesson to those managing communications: no matter what the Company, who the CEO or what the contract, public opinion is often dictated by large-scale national issues over which neither the Company nor the communications manager has any control over. The job of communications agent is therefore to be on top of any industry happenings or national issues that could affect the entities that they represent, and to be able to react and adapt as necessary.



This week the Abchaps decided that as Spring has undoubtedly sprung into action in the City, it was time to throw a party! The excitement bubbling away in the technology sector was the focus of the event, and we were lucky enough to welcome over 100 companies and advisers into our 125 Old Broad Street office. Medtech, cleantech, biotech, fintech – you name it; we discussed it!

The LSE Media group also held a fascinating event which one of the Abchaps was invited along too. The BBC presenter, Justin Webb, explained his views on ‘the News from America’ as well as current trends such as social media and information aggregation in journalism.



Simon Newsham, who previously owned the tax law practice Newsham Tax Solicitors, has joined Winckworth Sherwood as a partner of the tax team. He previously headed the tax practice at Dorsey & Whitney, and his career has lead him through Macfarlanes and KPMG.

Monica Ma left her role as a partner at Simmons & Simmons to join Keystone Law. Monica is part of the pensions and incentives team.

Lucy Harrold has also joined Keystone Law, where she is now part of the intellectual property division. Lucy was previously a partner at Stephenson Harwood.



“Omnishambles” - A neologism first used in the BBC political satire The Thick of It. The word refers to a situation which is seen as shambolic from all possible perspectives.



One can never go wrong by immersing oneself in the world of art. This Saturday, the Royal College of Art’s annual fundraising exhibition and sale will be held at the RCA gallery at the Battersea site. RCA students, along with work by established artists, illustrators and designers and famous names will be selling their postcard-size artworks.

For cruise lovers, the sixth annual London Cruise Show will be held this weekend at Olympia. This will be the Europe’s biggest cruise expo, parading a range of ships of all sizes: from small to modern resort style. This exhibition would be perfect for experienced sailors and curious cruisers alike!

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Weekly Wrap Up: Linkedin & the Hungry Internet users of China

On Tuesday, Linkedin launched a simplified Chinese language version of its website and is in the process of getting a license to operate the Chinese language site. If successful, it will mean that Linkedin will be the only global social media website to have official permission to operate in China, whilst most social media sites have been blocked by the Chinese government.

But does this mean that Linkedin will have exclusive access to professional circles in China? This will hardly be the case. Strict censorship rules in the country have not ruled out internet users’ appetite for social networking sites. Instead, the people of China have created their own networks similar to their Western peers, but with more users. Linkedin will be facing strong local competition from similar networking sites such as Ruolin and Dajie. Similarly, the Chinese versions of Facebook and Twitter, Ren Ren and Weibo have had incredible success and have widely penetrated the internet market in the past few years. Internet users in China have become increasingly sophisticated. Like everywhere else in the world, social media is an important platform in forming public opinion in China. At the end of 2012, China had 564 million internet users, representing nearly 40% of the Chinese population.

Internet users in China use "wall-climbing"
software to climb over the Internet fire wall
Image Isawnyu

Despite the fact that popular international social media sites are officially banned by the PRC government, it would be naïve (and possibly even wrong?) to assume that Chinese internet users don't use with them. By spending ten minutes to download what Chinese called the “wall-climbing” software (i.e. climbing over the fire wall), internet users in China will be able to access Facebook as smoothly as their Western counterparts. Whilst Linkedin’s expansion into China may be viewed as a new portal for PR’s to promote in China, it should by no means be viewed as the only site to watch.




This week Abchaps attended some great events, including the CFA UK Research Challenge at Locke Lord’s offices. At this, the investment Olympics for young professionals, the future potential of the City really shone through. Ever keen to learn more about our counterparts in the media, we enjoyed drinks at Bloomberg’s offices and have taken their preferred methods of working on board!

In terms of hosting, the Abchurch fridge has never been so full of healthy food and bubbles. We welcomed a large team from Cenkos Securities, where we discussed not only the fast-growing space of Life Sciences but also the increasingly efficient space of Clean technology. As more and more Companies now seek good team “chemistry” from their advisers, it was a good chance for the teams to mix and swap ideas.

Abchaps also hosted two market lunches, including one with a social media themed and one with an impact investment focuse. It seems that impact investment is rapidly maturing, with investors able to reap more gains from their socially/environmentally responsible investment than ever before.

We also flew over to Boston to join the IPREX GLC conference for the weekend. As an active member of this global network, we look forward to hearing about how our global partners are fairing in what seems to be a much more positive economy.




Private equity firm NVM has recruited Karl Cockwill as a portfolio manager in its investment team. He joins from 3i, where he was a portfolio manager.

Steven Skinner has been appointed head of West End investment at BNP Paribas Real Estate. He joined its central London investment team in January from Savills.




"LION" - A LinkedIn Open Networker - A LinkedIn member with more than 500 connections. These members accept any offer, good or bad and weak or strong; some question the value of this LION status when considering the quality and the quantity of contacts.

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Weekly Wrap Up: All Eyes on the Tech CEO

This week, The New York times ran an article questioning why the pay packets of those on Wall Street were so widely criticized when the bonuses of Technology CEOs go largely unnoticed. The article pointed to Google’s compensation committee awarding the former CEO and current Chairman, Mr Eric Schmidt, $100 million in restricted stock, plus a further $6 million in cash last month; that’s a lot of Google Glasses for his family next Christmas. Whilst the eyes of the world were clearly on Mr Schmidt’s pay packet, the generosity of the committee passed largely unscrutinised.

Now, arguably the public have more reason to resent the high-fliers in the Financial World after the woes of 2008 compared to their counterparts in the Tech World; one gave us the tax bill for their bank bailouts and the other? Moshi Monsters.

And the anger is not just confined to our friends across the pond. There was outrage when Barclays announced that sky-high bonuses would be awarded to their CEOs at a time when they were about to cut their workforce due to falling profits. Incidentally, this was the same week that widely publicised reports discussed how the minimum wage has failed to keep up with inflation, forcing those over 21yrs to struggle on £6.31 per hour.

But what of the perception of the people behind the paychecks?

We all know that banking CEOs have long been demonized and that anger has been directed towards not only their pack checks, but also at them. Tech CEOs, on the other hand, have been glorified and publicised as heros.

Take Mark Zuckerberg. When Facebook came into the public eye he was portrayed as the awkward boy next door; he had come from nothing, had a great idea, worked hard and deserved his fortunes. People tend to like the tech start-up story: the idea of entrepreneurial genius crafting a trade in his (or her) parents’ garage.

Are the tides turning on those in Tech?

When Facebook announced their $16bn plus acquisition of the cross-border messaging service, Whatsapp, headlines did start to focus in on the CEOs behind the deals, and the pay-packages that they were now due to receive. For example, The Guardian ran a story: “Beware the WhatsApp hype: Mark Zuckerberg is no benevolent overlord”. Zuckerberg was accused of trying to take over the world with his Facebook empire, attempting to monopolise a market that would be far healthier, and less ‘bubble-prone’, if there were a range of competition. Does this sound familiar? IS THIS A PROBLEM?

One may be temped to ask: so what? Maybe it is time that Tech CEOs should face some of the questions being faced by the leaders of banking? Perhaps this would stop them making the same mistakes?

However, perhaps this demonization of Tech CEO needs to be stopped before it gains too much momentum. Why? Because they are our role models.

In a recovering economic environment it is absolutely vital that all levels of society are inspired to think, innovate, consider and, one day, become future CEOs. SMEs are going to continue driving the UK forwards in terms of recovery and future growth. For this to happen, however, those at school need to want to ‘grow up to be’ the next Zuckerberg, and turn their bedroom-born idea into a multi-million pound success story.

So can we stop this demonization occuring?

Tech CEOs can take action to ensure that the perceptions of both their Companies and themselves are positive. This is not only important to help fuel the UK's economic recovery, with inspired young minds looking to replicate their tech CEO predecessors, but also to the companies themselves. The investment story of the Company is not so detached from the CEO, and valuations can be affected by the public perception of a Company’s leader. Just look at Bob Diamond: Barclays realised the damage that his reputation and demonization was doing to the bank, and he was ousted.

A common tool in the armoury of many communications professionals is now to position CEOs as “experts for comment” and encourage CEOs to feature in columns like the “How I Made It” in The Sunday Times Business section. This gives our industry leaders the platform to explain what inspired them to become a CEO, and how they did it. The positive public perception can then help them weather any storms or controversies that may subsequently appear in the press. If they are considered a pioneer and an inspiration, the public may be more forgiving.

So the benefits of protecting the reputation of Tech CEOs are twofold: it can benefit the Company and offer considerable value to society and economic growth; young people will be more likely to turn around and say “when I grow up I want to be a Technology company CEO”.



Nomura, appointed David Hague as managing director in its EMEA Debt Capital Markets business. Hague previously ran the UK and Ireland FIG DCM department at RBS.



"Zuckbucks": A new pseudo currency, which Facebook uses to do almost anything it can to retain global mobile dominance. It’s not a limitless fund; the WhatsApp deal represents about 10% of the company’s market cap.



Travelling to the Wonderland: Xu Bing installation at the V&A Chinese artist Xu Bing’s fantasy garden ‘Tao Hua Yuan’ has charmed a wide range of Londoners with its beauty and detail. The installation, which looks magical at night, has transformed the pool of the V&A courtyard into a popular attraction.

Garden Museum An interesting exhibition that explores the relationships between fashion and gardening. With pieces loaned from museums and couture designers including the late Alexander McQueen, the show stands to impress and is available until 3 May.

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Weekly Wrap Up: A Flow of Israeli IPOs

Is London well positioned to capture the next wave of Israeli tech IPOs?

There has been hype and a buzz in the City this week about the number of Israeli tech companies that are currently eyeing a listing in London. Companies include digital advertising company Matomy who now has ten global offices in Israel, Spain, Germany, Mexico, San Francisco and New York and employs 400 people. The Company is looking to raise £60m which will value it at between £200 and £300m. Another is digital advertising Company, Marimedia.

Israel, dubbed the 'start up nation', is the second largest source of innovation after Silicon Valley and is the third largest source of listings on New York’s NASDAQ. Global tech companies, Apple, Google, Intel and HP have been building up their research and development operations in Israel, making the country a major tech hub in its own right. Its leading tech companies have engineered cutting edge medical technology such as Given Imaging, a producer of swallowable camera pills.

Inspiring Innovation
Source: Oliver Thompson - Flickr CC

News of foreign tech companies, particularly from this innovative market, choosing to come to London to list is welcome news; London must do all it can to attract these companies. For too long London has failed to do so due to the lack of fund managers and analysts focusing on tech. Many argue that London’s capital markets are too immature in this respect when compared to NASDAQ or even NYSE, and until London sees a consistent number of tech companies floating successfully on the London Stock Exchange (LSE) then investors will continue to go to the US to tap into its attractive infrastructure, analysts and flourishing IPO market. Was it presumptuous of Joanna Shields, Tech City Chief, to claim in October 2013 that London had reached parity with New York when one of the most exciting companies and gaming giant, King chose to float in New York last year?

Nonetheless, London has been making positive steps to capture this market and the most attractive sector for growth. The LSE launched the “High Growth Segment” (HGS) in March 2013 with the goal of enticing firms to the market; companies wouldn’t have to comply with the usual free-float rules and would also be able to list by selling as little as 10% of their equity. This initiative has been received positively by fast growing companies, and according to Marcus Stuttard, Head of UK primary markets at the LSE, there is a rising interest in the broader IPO market. It is hoped that the arrival of Facebook and Google as established presences in East London will bring a new wave of commercial expertise. The government has also launched its Future Fifty scheme, designed to attract and support online entrepreneurs to push the UK into the front of the global race in this respect. These are all great initiatives, but more will be needed to ensure that London successfully rides the next wave of Israeli tech companies looking to IPO.



Abchaps welcomed Mazars Finance and Corporate Finance teams into our offices and heard about their focus on Israel, as well as their specialist sectors: media, technology and telecoms. We also entertained some special guests at Chelsea, who were victorious over Newcastle 3-0 at Stamford Bridge.



Love wasn’t the only thing in the air this week; promotions and new appointments were also on the cards at a number of top City firms. Our friends at Cavendish Corporate Finance appointed Joe Stelzer as a managing partner after four successful years at the Company.

Octopus Investments announced that Debu Purkayastha is to be their entrepreneur-in-residence at the fund management Company. No doubt he will use his previous experience at Google to drive the business forward with his keen eye for exciting new opportunities. In the legal domain, Pinsent Masons have also now appointed Michael Ruck as a senior lawyer in its corporate crime team.

Finally, following our client Lighthouse Group’s announcement last week that Rowan Dartington had been brought on board, the Group have also appointed Mark Evans as business development director, moving over from his senior executive position at Pearl Assurance.



'BitTag' – In a week where the burgeoning BitCoin industry was writ large across our newspaper headlines, our tech-loving friends over in East London introduced the ‘BitTag’ concept. BitTags are physical price tags that provide the consumer with a real-time indication of an item’s price according to market fluctuations, displaying both local currency and BitCoin value.

“Darling, you’ve left the BitTag on my valentines day present. This may have been a pricey gift at Harrods, but you could have got it at a knock-off price with BitCoin, you cheap…”



It’s the big Valentine’s Day today, so whether you have been struck by Cupid’s love arrow or are single and ready to mingle, the City is hosting numerous options for both love and lust...

Instead of gazing longingly into each others eyes over a candlelit dinner, get physical with some couples’ aqua zorbing or a ‘Lovers Leap Bungee Jump’! 

For you singletons, fear not – love could be found exploring the beautiful and the ugly at the Natural History Museum’s Valentine’s Day Night Safari. Alternatively, head to Bounce club for its anti-val, strictly no kissing, just ping pong night of partying!


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Tech Roundtable with Alistair Crane

Abchaps recently hosted 10 tech-loving City high fliers at our office. Everyone, without exception, around the table had first-hand experience of an Exit of some kind. We were fortunate enough to have Alistair Crane, Executive Vice President of Monitise Create, to co-host the event, following his starring role on Abchat just before Christmas. Alistair is widely considered as one of London’s top young entrepreneurs. He took his own start-up, Grapple Mobile, through a successful exit when sold to Monitise in September 2013. Alistair was the perfect candidate to chair the roundtable as we gained insights into the trends, opportunities and anxieties of those in the tech start-up space.

All guests agreed that there was a lack of funding from the banks available to early stage start-ups. The papers are littered with stories of how the Government plans to boost SME funding, but what about financial help for those who just have a really great idea? Those ideas need financial support to become the next big thing, and whilst there is undoubtedly a lot of over zealous non-starters out there, we must remember that one or two of those will be the next Twitter or maybe the next Grapple.

3D printing Source: www.engadget.com

There was a feeling that beyond the banks, there is also a lack of options for those embarking on small capital raises. Tech start-ups can bump into the right people, operating in the right place at the right time and pick up the first £500,000 - £1m required to commercialise or expand. But if they don’t come across the people in the know, how are they supposed to gain access to capital?

It was proposed that the answer lies in the little black books of a few well-connected individuals in the City. A guest rightfully asked who now actually owns those leather-bound, pocket-sized and extremely coveted collections of paper? The consensus was that it was only through building relationships, getting out there and meeting both the more experienced players and indeed their successors, can anyone succeed.

Alistair focused on the importance of having a solid ‘Team’ in the aforementioned blogpost. It became clear from the lunch though, that particularly for a young CEO, ‘The Team’ is not just defined as those directly working under the payroll of the Company. It also includes advisers and intermediaries working alongside the young entrepreneur.

An article published by Niklas Zennström in the Financial Times recently questioned whether, given the ease of collaboration now facilitated by the Internet, the HQ of a start-up needs to be in a buzzing tech hub? Alistair, for one chose not to base his Company in Tech City, instead preferring to work from Soho, the media hub of the UK. This was however, only because he wanted to be close to his clients. It seems that wherever you choose to work from, you need to be amongst at least one of the most important stakeholders of your business, whether it be that clients, investors, advisers or the best talent pool.

Wearable Technology Source: broadband4europe.com

Conversations went onto examine future trends: Are disruptive technologies the future or are the strongest players in the field those who focus on developing a pre-existing technology? Where will tech newbies such as Twitter be in five years time in relation to the firmly established giants found in other sectors? The unique business life cycle of a tech company is definitely something that investors are still becoming accustomed to. Alistair believes (he admits perhaps due to a recent visit to the ever-optimistic United States), the likes of Twitter have a definite staying power and have gained traction in a sceptical but porous market.

There is no doubt that it’s an exciting space to be in; the lunch was an excellent opportunity to hear from those who are on the ground, enjoying the highs of a fledgling sector but also coming face to face with the daily hurdles of a growth industry. One thing is for sure, talking to the tech community is invaluable, and conversation is key. No tech start-up, nor adviser, is an island. Or, as the school lunch hall suggested, a slightly awkward geek. It is an exciting, prosperous and energetic community who are already succeeding, as shown by Alistair Crane. With the right teams and support networks, the industry will, undoubtedly, continue to go from strength to strength in the coming years.

Stephanie Watson

Follow us on Twitter @AbchurchComms

Weekly Wrap Up: The Key to Israel's Tech Success

Israel, often synonymous with the term “start up nation”, has over the past few years seen the giants of the tech world swallow up some of its best start up companies. Many commentators believe Israel is on a roll following Google’s payment of $1bn for mobile traffic app Waze, Facebook’s purchase of data compression company Onavo, and Apple’s acquisition of Primesense. Israel is now the second largest source of innovation after Silicon Valley and the third largest source of listings on Nasdaq after North America and China. For a small country always in a hostile environment, what is the key to its unparallelled success?

Perhaps the answer to that question lies in region of the country’s compulsory military service. The founders of Onavo, for example, served in the army’s intelligence division Unit 8200 prior to founding the Company; a Unite renowned for producing graduates whom are behind some of the country’s most renowned start ups.

The UK is now attempting to mirror Israel’s start up success by encouraging ex services personnel to launch their own businesses; examples can be seen in what are now thriving businesses, including Mergermarket, Trailfinders and Go Ape.

Similarly in the US, large companies such as FedEx, Digital Equipment Corporation, and Walmart were founded by former members of the armed forces. Ben Brabyn (former Royal Marine and founder of Heropreneurs) set up a charity designed to help ex force personnel to start up businesses. He extols Israel as a fruitful start up hotspot and states that it should be no surprise that it is recognised as such in a country where every citizen has to serve in the military.

Where Israel lags behind is that it has not grown its companies into big leagues because of gaps in management and experience, as well as a restless entrepreneurial culture that trumps exits over organic growth. However, this is beginning to change, and Tel Aviv as the tech cluster is pushing heavily for the government to relax visas so it can attract foreign skilled workers and to open it up to global talent.

The challenge is now for London to position itself as a city of choice for tech companies looking to list, and not lose out to the number of such companies that are currently choosing to go to the US. London must look to capture a slice of this pie and to attract companies to Silicon roundabout so as to further develop its own tech sector.

Britain’s bilateral relationship with Israel is enormous: two-way trade reached more than £3.81bn by the end of 2012, compared with the £3.7bn recorded for the previous year. Britain is on track for UK Trade and Investment’s target of topping £4bn by the middle of the decade. Such a relationship is invaluable to the UK and to London and will ensure London retains its competitive advantage.



Abchaps went along to the Proactive Investors One2One investor forum to view presentations by Mwana Africa plc, Edge Resources and NioCorp (on the recommendation of RFC Ambrian). The presentations were very compelling, reminding us of the importance of having a sociable CEO as the mouthpiece for a company seeking investment.

Always keen to learn more, we also hosted two market lunches to discuss how the City’s optimization is playing out the Tech sector.



Our friends at finnCap, currently number one broking house to AIM companies, have strengthened its offering with the launch of a new investment trust, thanks to two senior appointments - Paul Harrington, formerly of Westhouse Securities and James Simpson of Jefferies.

Baker Tilly also announced Rob Donaldson, previously of Baker Tilly, as its new head of Corporate Finance;  while Norton Rose Fulbright appointed Geoff Peters, formerly Freshfields Bruckhaus, as a partner within the Company’s energy M&A team.



If you ever fancied your chances as a bit of a Fred Astaire or Ginger Rogers, now is your time to shine. Head down to the Tea House Theatre in Vauxhall on Friday night for ‘Tails & Twirls’. Dance the night away doing the quickstep, foxtrot, rumba, charlston and some cha cha cha to a live band and vintage records. 

Alternatively, the get involved as Brooklyn Bowl, the iconic Williamsburg music venue / bowling alley, makes its European debut right on London’s doorstep. Setting its roots at the O2 arena it offers 12 bowling lanes, bar areas and food served from the famous New York restaurant Blue Ribbon.

Finally, if you wanted a quieter, more cultured weekend then head down to the Business Design Centre, Islington, for the 26th edition of the London Art Fair. Treat your eyes to the wondrous, contemporary art and design being showcased by a number of notable British artists such as David Hockney, Francis Bacon and David Shrigley.

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Alistair Crane: Maximising Value of your Tech Start-up

THE MAN

Alistair Crane left school with nothing more than a few GCSEs. At the age of 21 he had started work for NAVTEQ, a digital mapping subsidiary of Nokia. By 23 he had co-founded the mobile app developer, Grapple. Grapple designed and created the mobile applications for global brands from McDonalds to Pfizer. It was subsequently sold in 2013 to AIM-listed company Monitise, world leading mobile payments company, for a tidy sum close to £40m. And Alistair’s take on both his personal and company’s journey is .... "It’s only just the beginning".

Alistair was kind enough to share with Abchurch some of his top tips to enhance a technology company’s journey from start-up to a mature and established industry profile.

START RIGHT

First off for start-ups? Start right. Alistair admits that the early days can be more than a little bit daunting but if you prioritise your short term goals, a plan of action can become much clearer, surprisingly easily.

THE TEAM

This starts with choosing the right people for your team. Alistair personally recruited the vast majority of his staff so that he can always guarantee that he is surrounded by trustworthy people who are passionate about the company and product. He believes there is freedom for everyone to be on their own journey, whilst contributing to the Company’s goals. Consistent belief in the product will ensure that at crucial yet turbulent moments in a business’s life-cycle, the CEO won’t need to have all the answers, as the insight and passion will come from within. In terms of leadership, there just needs to be a gesture towards how things may play out and people will be on board. There can be no grey areas in the team’s enthusiasm for the journey – you’re all in it together.

THE EXIT

Whilst Alistair is a firm believer that it is not always necessary for the CEO to hold all the answers, he believes you have a firm focus of what you ultimately want to achieve with the business; profitability, expansion or even an exit. Be that through a trade sale or an eventual IPO, you need to have an eye on the future so that you can optimise the present. More often than not this can involve positioning yourself in a certain light in-front of target audiences. When Grapple turned down all VC funding, they knew their financial position would come under scrutiny, so they had to be clever with the way they communicated their business growth.

THE BRAND

Development of both personal and corporate brands ensures that what the company does and how they do things is clearly communicated. The personal brand that Alistair has developed is undoubtedly a key factor in the growth and development of his start-up. In his own words, if he was a brand, he would be Ronseal…doing exactly what he says he will do. Such steely determination is likely a shared attribute amongst many start-up CEOs – although not all may choose the right words to describe what they do. Alistair’s choice? .... "I’ll just keep smashing through walls for as long as I can!”

Alistair is adamant that there must always be positivity surrounding the brand. Whether it’s current or ex-employees, clients, future clients or investors, they always need to think you are good people with something of value to say and do. His own experiences have taught him to be conscious of past, present and future relationships at all times and sometimes this can be down to something as simple as just offering some help.

THE HELP

It’s not all smashing through walls though, and Alistair explains that his experiences have taught him that value is subjective - an art not a science. He feels that start-ups must come to appreciate this if they want to make the transition to a more established industry presence. The stakeholders and influencers that can affect the financial credentials of the company may have a different perception of value to the CEO and team. Ultimately, their view can directly affect the long term trajectory of the company. He suggests that CEOs need to have partnerships with people who can both understand the value proposition and advise about how to position it. Sometimes you need a little help along the journey.

Here’s where PRs come in – they are on a journey too, and want to be good people and help. Companies like Abchurch can advise start-ups on what their content should include and how to communicate it. This includes positioning firms in front of the right investors, analysts and media, so that key audiences gain a clear insight into your company’s model and the future value you hold.

In the words of the American novelist, Don Williams jr. ...

“The road of life twists and turns and no two directions are ever the same. Yet our lessons come from the journey, not the destination.”

Stephanie Watson

Follow Alistair Crane on Twitter @AdFundAl