NEW YORK—Weber Shandwick has been named public relations agency of record for SecondMarket, the world’s largest marketplace for illiquid assets such as auction-rate securities, bankruptcy claims, collateralized debt obligations, residential and commercial mortgage-backed securities, and limited partnership interests.
The New York-based company hired Weber Shandwick to help raise visibility for its marketplace solutions for illiquid assets. SecondMarket’s online trading platform has 3,000 participants, including global financial institutions, hedge funds, private equity firms, mutual funds, corporations and other institutional and accredited investors, collectively managing more than $1 trillion in investable assets.
“Our partnership with Weber Shandwick kicked off during a critical time in the financial markets,” said Barry Silbert, SecondMarket’s founder and chief executive officer. “We look forward to telling our story about the solutions we are providing to address liquidity needs through a robust trading environment and active marketplace.”