Paul Holmes 07 Dec 2011 // 12:00AM GMT
NEW YORK—Ruder Finn has officially completed the reorganization that sees of the firm split in two separate units under the Ruder Finn Group banner: Kathy Bloomgarden (pictured) will continue to lead Ruder Finn, while her brother Peter Finn will take the helm of a new firm, Finn Partners, the creation of which was reported by the Holmes Report in May.
The third firm in the Ruder Finn Group, RF|Binder, is unaffected by the most recent restructuring.
Ruder Finn will retain about 70 percent of the legacy firm’s business in terms of fees—believed to have been around $70 million last year, enough to rank the agency among the top 20 in the world and the top six independents.
Bloomgarden says that Ruder Finn will retain nine of the old firm’s 10 top clients, including Novartis, PepsiCo, Motorola, Microsoft, BMS, Astra Zeneca, and Abbott. It will continue to be organized around four strategic pillars: corporate reputation, health and wellness, technology and innovation and consumer life style.
Ruder Finn will also hold on to the international operations, including an office in London and a thriving Asia-Pacific network, best known for its work with luxury brands such as Hermes, Cartier, Canali, Moet Hennessy Diageo, Breitling, Emirates and Jumeirah Group
Finn Partners launched with a staff of around 160 spread across five US offices, and fee income of around $25 million. Its clients include the Jamaican Tourist Board, Liz Claiborne, Logitech, North Face, and Hyundai.
Finn now expects to see at least $30 million in revenue in 2012, thanks to new assignments from clients such as Active Network, the American Association of Orthodontists, IEEE, Harper Collins Publishers, and TomTom.
Finn is joined at the new firm by six senior partners—Richard Funess, who was president of Ruder Finn Americas; Howard Solomon, who leads the firm’s west coast operations; Alicia Young, head of the Ruder Finn technology practice in New York; Gail Moaney, who heads the firm’s travel and tourism business; and Noah Finn, who will lead the digital practice.