With immediate effect, Mitchell Moneypenny will become responsible for the management of all PR activities on behalf of IFA portal service, The Exchange, as well as Vertex’s broader financial services activities.
Mitchell Moneypenny is headed-up by Nicola Mitchell. Before forming the consultancy in September 2002, Nicola was group marketing communications director of The Exchange.
On February 9th, Vertex’s parent company United Utilities agreed to acquire 1st (an existing client of Mitchell Moneypenny) as part of its strategy to accelerate electronic trading in the IFA market place. The combination of The Exchange and 1st will offer providers and distributors significant administration savings and drive forward electronic, end-to-end, transaction services.
David Child, managing director of The Exchange, commented:
“We are delighted to have Mitchell Moneypenny on board as our PR partners. With their unparalleled prior experience in the marketplace, they are perfectly positioned to develop and manage the high level strategy and communications needed to support our ambitious future growth plans. In addition to taking responsibility for running The Exchange’s Press Office, Nicola and her team will handle the launch and ongoing promotion of the industry’s first compelling straight-through processing system - formed through the combination of The Exchange and 1st.”
Nicola Mitchell, managing director of Mitchell Moneypenny, added: “Following the recent acquisitions in the financial technology sector, it is clear that consolidation and competition will continue and good communications will be a vital factor in determining the relative success of the key market players. With their impressive commitment to the value of good PR and such a dynamic future growth strategy, we are thoroughly delighted to have been selected by Vertex to work alongside them. We are confident that the relationship will be a long and mutually rewarding one.”
