LONDON—U.K. marketing services group Loewy has launched a new PR consultancy called Speed Communications, which will work across the consumer, technology, business and corporate sectors. Speed has been formed by bringing together the teams of BMA Communications, Custard PR, Lighthouse PR, Mantra PR and Rainier PR, all of which were acquired by Loewy over the past three years.
The 50 person-strong firm has an annual fee income of around £5 million and a client list that includes The Economist, ntl:Telewest Business (part of Virgin Media), Tesco, Toshiba and Wickes. The team is led by managing directors Steve Earl and Stephen Waddington, previously managing directors of Rainier PR. Its chairman is Bill Jones, co-founder of Lexis.
Says Waddington: “The PR industry has reached a watershed moment. The fragmentation of media, rise of social networks, increasingly savvy purchasers and the recession are combining to challenge the established PR industry hierarchy. Speed is a modern consultancy that is seeking to tackle this head on in delivering assured impact for its clients.”