Top spin doctors' PR firm hit by defections over owner strategy
(City A.M. (UK) Via Acquire Media NewsEdge) SIGNS of exodus yesterday at M Communications, the top flight financial public relations agency founded by City veterans Nick Miles and Hugh Morrison.
According to insiders, five senior people handed in their resignations, unhappy about the way the agency''s profits are being distributed.
Insiders told The Capitalist last night that M, with annual revenues of around $20m a year, is effectively subsidising other parts of the group. King Worldwide is the owner of M, and M is said to be the most profitable part.
Clients were told yesterday of the departures and for the time being are staying loyal.
(c) 2013 City A.M.
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