LONDON—Cardew & Company, one of the leading independent financial public relations firms in the United Kingdom, has acquired London-based financial services boutique Chancery Communications. The combined firm, CardewChancery, will have a staff of around 30, annual revenues of around £5 million, and more than 50 clients including the Strategic Rail Authority, PricewaterhouseCoopers, and the Postal Services Commission.
There has been a lot of activity in the U.K.’s investor relations community in recent years. Several firms have been acquired: Square Mile by BSMG Worldwide; The Maitland Consultancy by Havas; and Finsbury by WPP. Other firms have been expanding their international operations: Brunswickk Group has made several aggressive hires in the U.S., while Financial Dynamics has begun working more closely with sister company Morgen-Walke Associates.
Cardew founder and chairman Anthony Cardew told reporters the deal would help his firm grow while remaining independent.
Cardew, a veteran of senior positions at Chares Barker and Grandfield Rork Collins, who started his own firm in 1991, will be chairman of the new venture. Chancery chairman David Waller, a former Financial Times journalist who started his company in 1996, will be chief executive.
The deal was brokered by Rupert Ashe, a partner in the consulting firm Madsen Gornall Ashe.