NEW YORK— Scott Sunshine, previously a principal and senior managing director at Middleberg Communications, and Andrew Healy, previously a senior director at the same firm, have launched Water & Wall Group, a new firm with a focus on business-to-business financial services.

Water & Wall was formed by acquiring the majority of the clients in Middleberg’s financial and corporate practices group and will be wholly owned by Sunshine and Healy. The firm opens its doors with 10 clients spanning retail and institutional asset management, exchange-traded funds, venture capital, private equity, and an accounting industry association.

In 2006, Middleberg purchased TowersGroup, a public relations agency specializing in financial and professional services, at which Sunshine was a principal and Healy an account director. According to Sunshine, the move was motivated by a desire “to return to our roots as a niche agency."

Also joining the Water & Wall team in an advisory capacity is reputation management pioneer, Alan Towers.