Thursday, June 08, 2006

Financial Dynamics acquires Citigate in Dubai

Steve Wrelton writes in CampaignME:

The Dubai operation of financial PR agency Citigate has been bought by rival firm Financial Dynamics.

FD, which already has an office in Bahrain, claims the acquisition from the UK’s Huntsworth Group, will help it become a leader in business communications across the Gulf region.

The acquisition comes at a time when greater attention is being given to financial PR after stock markets across the Middle East started to drop.

As a result of the acquisition, FD will take on the rebranded agency’s clients, which include Mellon Global Investments, Invesco, Forsyth Partners, Lloyds TSB and Dubai Sports City.

Citigate was founded in Dubai in 2003 by John Hobday, who now becomes managing director of FD in the Gulf.

“FD has invested considerable time and resources building its brand in the Gulf region in recent years and we are enormously excited to be joining the team and working with our new colleagues both here in the Gulf and elsewhere around the world,” said Hobday.