LONDON—Financial public relations stars Nick Miles and Hugh Morrison—who left Cordiant’s Financial Dynamics unit amid much acrimony earlier this year—have announced their new agency, which will be launched in the New Year and known simply as M. The firm will offer financial and corporate PR, event management, corporate social responsibility, and sponsorship services.
Meanwhile, their former parent company continues to struggle, after chairman Charlie Scott announced that he is leaving the firm, just weeks after chief executive Michael Bungey said he would step down as shareholders became increasingly disgruntled about the company’s performance. There has also been speculation that the group could be acquired and broken up.
Miles and Morrison were the two senior executives at Business Communications International, a business unit of Cordiant that included Financial Dynamics in the U.K. and what is now FD Morgen-Walke in the U.S. After their departure, Cordiant commenced legal action to prevent them from setting up a competitive firm and they filed claims against the company under U.K. whistleblower statutes. The suits were settled out of court.