Holmes Report 07 Feb 2012 // 12:00AM GMT
MOSCOW--Fleishman-Hillard has raised its take in its Russian joint venture F-H Vanguard to a majority interest.
The joint venture was established in 2007, and has grown rapidly to become one of the biggest consultancies in the country, under the leadership of general director Elena Fadeeva.
“Under her leadership, Fleishman-Hillard Vanguard has met the growing needs of our clients to build their brands and strengthen their reputations in this important part of the world,” said F-H president and CEO Dave Senay in a statement. “As a mark of their success, Fleishman-Hillard Vanguard has outperformed the Russian PR market year on year over the past three years.”
F-H Vanguard will become a hub for the US firm’s expansion in Russia and the CIS. “Since forming the joint venture with Fleishman-Hillard, our turnover has more than doubled,” said Fadeeva. “We expect to continue growing as we extend our footprint within the region.”
F-H EMEA president John Saunders joins the board of the firm, while F-H CEE and Middle East regional director Lucien Vallun continues as chairman.