TECHNOLOGY PR FIRMS RANKED

Firm 2021 Net Fees Firm 2021 Net Fees

1. Edelman, New York, NY

2. ICR, New York, NY

3. Hotwire, New York, NY

4. Finn Partners, New York, NY

$281,151,000

57,010,094

48,223,657

46,150,000

5. Zeno Group, New York, NY

30,205,038

6. Highwire PR, San Francisco, CA

29,248,298

7. Walker Sands, Chicago, IL

28,486,242

8. Ruder Finn Inc., New York, NY 21,270,000 9. Hoffman Agency, The, San Jose, CA 20,158,000 10. PAN Communications, Boston, MA 19,918,991 11. APCO Worldwide, Washington, DC 18,365,600 12. Inkhouse, Waltham, MA 16,065,029 13. Clarity, New York, NY 14,428,176 14. Wachsman, New York, NY 13,958,572 15. 5W Public Relations, New York, NY 12,800,000 16. MWW, New York, NY 12,439,795 17. Matter Communications, Boston, MA 11,706,000 18. Bospar, San Francisco, CA 11,310,344 19. Hunter, New York, NY 10,400,000

20. Fahlgren Mortine (includes TURNER), Columbus, OH 9,752,848 21. Merritt Group, McLean, VA 8,619,763 22. SourceCode Communications, New York, NY 8,588,700 23. Racepoint Global, Boston, MA 8,200,000 24. LaunchSquad, San Francisco, CA 7,491,000 25. Lumina Communications, San Jose, CA 6,432,200 26. Touchdown PR, Austin, TX 6,227,591 27. Padilla, Minneapolis, MN 5,744,091 28. Gregory FCA, Ardmore, PA 4,828,887 29. TruePoint Communications, Dallas, TX 4,229,964 30. Raffetto Herman Strategic Comms, Seattle, WA 4,197,973 31. Idea Grove, Dallas, TX 3,761,922 32. Crenshaw Communications, New York, NY 3,687,430 33. ARPR, Atlanta, GA 3,292,710 34. Lansons, New York, NY 2,684,847 35. Trevelino/Keller, Atlanta, GA 2,600,000 36. Karbo Communications, San Francisco, CA 2,450,000 37. Peppercomm, New York, NY 1,851,788 38. Standing Partnership, St. Louis, MO $1,794,392 39. Coyne PR, Parsippany, NJ

1,700,000

40. Kivvit, Chicago, IL 1,608,789 41. French | West | Vaughan, Raleigh, NC 1,200,585 42. Rally Point Public Relations, New York, NY 1,163,490 43. Tier One Partners, Boston, MA 1,137,328 44. Firecracker PR, Brea, CA 1,113,000 45. Pierpont Communications, Houston, TX 1,107,848 46. 360PR+, Boston, MA 986,467 47. CommCentric Solutions, Inc., Tampa, FL 939,970 48. Feintuch Communications, New York, NY 709,684 49. Jackson Spalding, Atlanta, GA 667,187 50. Berk Communications, New York, NY 630,000 51. Bellmont Partners, Minneapolis, MN 544,588 52. Novitas Communications, Denver, CO 516,000 53. Virgo PR, New York, NY 500,000 54. Brownstein Group, Philadelphia, PA 405,844 55. Greentarget Global LLC, Chicago, IL 369,200 56. Beehive Strategic Communication, St. Paul, MN 359,456 57. Otter PR, St. Petersburg, FL 354,652 58. Pugh & Tiller PR, LLC, Annapolis, MD 314,639 59. Champion Management Group, Dallas, TX 312,948 60. Bliss Group, The, New York, NY 305,283 61. Rasky Partners, Inc., Boston, MA 270,000 62. Montieth & Company, New York, NY 266,866 63. BizCom Associates, Plano, TX 261,673

64. Tunheim, Minneapolis, MN 227,193 65. Zapwater Communications, Inc., Chicago, IL 196,491 66. O’Malley Hansen Communications, Chicago, IL 169,825 67. FrazierHeiby, Columbus, OH 132,595 68. WordWrite Comms LLC, Pittsburgh, PA 121,650 69. MP&F Strategic Communications, Nashville, TN 97,105 70. Lavidge, Phoenix, AZ 57,000 71. Milk & Honey PR, New York, NY 55,750 72. Marketing Maven PR, Camarillo, CA 37,409 73. Lawlor Media Group, New York, NY 27,000 74. Violet PR, Montclair, NJ 16,573

O’Dwyer’s interviewed executives at some of the top-ranked PR agencies representing the financial services sector to find out if the economic slump caused by the COVID-19 pandemic is over and what the future holds as a possible market correction looms on the horizon.

By Jon Gingerich

The top-10 firms specializing in financial PR and investor relations accounted for a total of $291 million in net fees in 2021, according to O’Dwyer’s 2022 ranking of financial PR firms, a $25 million gain from 2020’s $267 million.

The numbers make it clear: the financial communications sector fared better than most others during PR’s post-pandemic rebound. We asked executives at some of the top-ranked financial PR firms what they attribute to their success last year and what trends and changes they predict for the future, as rumors of a coming market correction loom on the horizon.

ICR climbs to new heights

New York-based investor relations firm ICR claimed the number-two spot in O’Dwyer’s 2022 financial rankings, accounting for $97.8 million in finance-related fees last year, a 61 percent leap from 2020’s $60 million.

ICR co-Founder and CEO Tom Ryan told O’Dwyer’s that the agency’s growth in 2021 was driven by new client retainer wins and the firm’s ability to smartly advise on transactions, notably IPOs and SPACs.

“Having navigated through multiple business cycles over the past 25 years, both good and bad, we’ve developed the ability to adapt and pull multiple levers to create value and continue providing the best in client service through all points in the cycle,” Ryan said.

Ryan noted that the agency didn’t experience a COVID-related slowdown, as its revenues grew 20 percent in 2020. In fact, financial markets remained healthy and even experienced increased activity in many areas such as SPACs and IPOs. In addition, Ryan said uncertainty and overall market volatility increased the demand for expert financial communications support. “Ultimately, the more complicated the landscape, the more public and private companies must work to communicate their story and ICR is uniquely positioned to support clients in that capacity,” Ryan told O’Dwyer’s.

Ryan said the long-term acceptance of the SPAC structure, continued demand by institutional investors for ESG progress, new and disruptive technologies raising capital from the public markets and an increasingly complex and contentious communications environment for companies that will require expert advice and communications strategies are trends he predicts in the future.

“The expectation in 2022 was for the capital markets to cool down somewhat and the geopolitical climate has certainly accelerated that slowdown. But markets always pause and regroup and we’ve seen this happen many times over the last 25 years. As volatility subsides, corporate transactions will return and ICR will be a major beneficiary given our record backlog,” Ryan said. Tom Ryan

Prosek seizes on the ‘market of marketing’

Prosek Partners had a strong year in 2021, and this was especially evident in its finance/IR earnings: Prosek climbed to $70 million in finance-related fees in 2021 to claim the number-three spot, revealing 30 percent growth from $53.9 million the year prior.

Founder and CEO Jennifer Prosek attributed several factors to her agency’s success last year, including the SPAC boom, IPOs and IR as well as a busier-than-usual special situations business.

She also said private markets clients—PE, hedge funds and asset managers—are investing in communications, marketing, digital, ESG and prioritizing brand building and reputation management in ways they never have before. Prosek said her firm placed a big bet on the private markets becoming a major sector for the firm, which she referred to as the “Emerging Market of Marketing.”

Prosek thinks private markets will continue to be a hot growth sector for financial firms this year, and with that will come new spending in communications, marketing, IR and digital.

“ESG will also continue to be a major focus for our financial clients this year, driving consulting and communications revenue,” Prosek said. “Brand, creative and digital—as an integrated solution—will also grow as financial firms seek players who can combine deep financial knowledge/acumen with world-class creative services.” Jennifer Prosek

Vested benefits from value proposition

Financial services specialists Vested accounted for $17.5 million in finance-related fees last year to hold the number-five spot in O’Dwyer’s financial rankings, an impressive leap from 2020’s $12.4 million.

Co-Founder and President Binna Kim believes Vested’s exponential growth is a reflection of the agency’s powerful value proposition, which combines deep financial expertise, robust integrated marcomm capabilities and a non-traditional approach to agency growth.

“Financial services brands—more than ever—are striving to brand, market and communicate themselves in more engaging and authentic ways. This demands pragmatic creativity—the kind that can only come from an agency that deeply understands the business of finance but can also apply strategic creative thinking and execution,” Kim told O’Dwyer’s.

Looking forward, Kim believes finance brands are going to continue investing in highly intentional and values-driven marketing and communications. Finance brands are also looking for tech-empowered marcomm campaigns, which explains Qwoted’s rapid growth.

“Across the board, we see brands investing in brand examination, and refining their brand propositions to reflect a post-COVID world where everyone is seeking more humanity in the brands they partner with,” Kim said.

Binna Kim

Lambert looks to investor community

IR/PR firm Lambert climbed to $7.4 million in finance-related fees last year from $6.2 million in 2020 to claim the number-11 spot on O’Dwyer’s financial rankings.

Founder and Chairman Jeff Lambert attributed the firm’s success last year to its business-outcomes mindset for driving