Nominis Advisory

Nominis Advisory

ANGUS CAMPBELL Director of Nominis Advisory

Q I remember when I first saw you on TV around 2005. What was it like to first appear on TV in front of millions on CNBC?

I headed up the sales team at Finspreads (part of IFX Markets) back then and became very irritated by watching the likes of Bloomberg and CNBC television which always featured competitor commentators so I thought “right, enough is enough, it’s time for us to get our name out there and get on these channels”.

I searched around for CNBC’s telephone number and called the interviews desk, not really knowing what to expect nor what I was going to say and it was just a stroke of luck that the producer picked up. Being a salesman at the time I pitched him as I would any client and I did not expect the response I got, which was one of enthusiasm that there was someone else they’d be able to get on their market analysis rota.

Before I knew it I was booked on to go into their studios for a live interview. As you can probably imagine I was more than just a little nervous, especially as it was going to be a discussion around the Bank of England’s interest rate decision that day. I had no idea what to expect from this first live studio experience and just kept wishing I wouldn’t make a fool of myself. Thankfully, they just wanted to test my quickly and it was very brief as they just asked me one question. Afterwards the producer said that all went well and so from then on television interviews became a much more regular occurrence.

Q You have an incredibly long track record in this industry, how have you seen it evolve from your days at City Index until now?

When I left university in 2001 I will never forget opening an account with IG Index and you were able to trade online with them, but you were sent a CD to download their software which was nothing more than a messaging application. If you wanted a

Angus Campbell. Director at Nominis Advisory

price on the FTSE you would submit a request and after about 10-15 seconds it would say you were connected to a dealer, then another 10-15 seconds you would receive a price, which of course was about 10 points wide! From there you had about 5 seconds to either buy or sell. It would have been quicker to call the trading desk basically.

Soon after a stint at a London based hedge fund, I joined Finspreads as a dealer and they were literally at the cutting edge of technology within the industry and launched the first online trading platform. It didn’t have streaming prices, but the quote requests were fast and it was something that was not seen anywhere else in financial services. I remember speaking to a friend from IG years later who mentioned that at the time they became very worried as their telephones simply stopped ringing – it was a paradigm shift. IG were quick to react though and invested heavily into technology which then gave them back their market lead and arguably is what got them to the position they are in today.

The shift to online in the early noughties led to a price war, so firms like Capital Spreads and CMC disrupted the market with their tight spreads and I joined Capital Spreads, now LCG, after leaving City Index.

By then many new entrants were appearing as trading FX was becoming very popular, so firms based in other European countries were passporting their services across Europe and driving dealing costs for clients even lower. It led to an explosion in extra service offerings such as charting, news, algo building tools etc all becoming the norm.

I remember showing to an institutional banker one of the trading platforms and they couldn’t believe the trading solutions that retail investors were being given at the time and even today these tools are highly sophisticated. Q How was making the transition from sales to PR, did you miss the buzz of sales?

Not particularly as it was a natural progression as I was running the LCG sales desk, hosting and presenting at client seminars, but at the same time writing market comment and doing television interviews.

I didn’t move into a fully-fledged PR position until I left LCG and joined FxPro and even then, moving from sales to PR didn’t feel like a huge change as where the presentations used to be to retail clients before, they starting being presentations to press and investors. With the different but similar disciplines being within both a highly regulated industry and, in the case of LCG, a publicly listed

Q Did the sales background help you in developing your PR skills?

As mentioned, the two disciplines have many similarities. With sales you are speaking to existing and potential clients pitching your services and product offering. In PR you are often pitching to journalists, which is arguably more challenging. In both cases it is important to have a good understanding of the regulations and the capacity within which you can speak, so it’s all about getting your story right, ensuring it’s something that is newsworthy and would be of interest to media. Clearly the market journalists were always hungry for good insights and having immersed myself in the financial markets, this has always been something I have enjoyed studying and talking about.

Q Are there any central pillars to a solid PR campaign for an FX brokerage to adhere to?

The first golden rule is to always be truthful and do not make any claims that you cannot substantiate. This is particularly important in a crisis and reacting to market developments. The best example of this was when I was at FxPro the day the SNB pulled its EUR/ CHF peg. I was taking direct calls from the journalists I know at the FT, Reuters and Bloomberg and because we had robust issues preparedness procedures in place, we could deal with their queries quickly and to their satisfaction. I do believe FxPro emerged stronger from the SNB debacle as a result.

For proactive activity, anything that amplifies your communications to give it newsworthiness will help grab the attention of media, for example insights into client trading activity is often of interest to journalists. Now we see many brokers illustrate client positions in the markets which provides a really interesting picture of client behaviour. Research is also powerful and by that I don’t mean market analysis, rather in-depth research into client perceptions or industry themes.

Q How much does budget play a role in a PR campaign, as opposed to fresh ideas. Does a big budget cover up a bad idea?

The important thing here is to distinguish between PR and marketing activity as all too often the distinction is blurred. PR is about media relations and achieving or managing non-paid press coverage, getting into pieces of editorial press. Marketing is the paidfor element, but the two go hand-in-hand and any communications plan should include a mix of paid and non-paid activity.

So budget is entirely down to what activity a broker wishes to undertake. If it’s a regular drip feed of content and market insights, then it is your PR advisor’s job to get it in front of the relevant journalists so that the client appears in the market columns. Here the PR adviser’s media relations are key and it’s always worth using experienced PRs who know the market and know the right media, so the more money spent on PR doesn’t necessarily get more coverage, especially if it’s a bad idea!

In fact, in this instance a PR advisor should be honest with their client and let them know why something is not newsworthy. Often, it’s the case that brokers will build a new platform and want to shout from the roof tops, claiming that the FT should cover it on their front page. Unfortunately, the reality is very different and it is a PR’s job to advise accordingly. Worth noting there are many other outlets than just the FT.

Q In 2015 you joined a PR agency focusing on technology businesses, in particular blockchain, before setting up yourself. Is there any radical difference between this industry and your previous one?

Being involved in blockchain technology from an early stage has been totally fascinating, whilst at the same time providing its ups and downs! It took me back to the emergence of the internet within our everyday lives and the dot-com bubble in 1999 and 2000, when suddenly everyone was setting up an email account.

As mentioned, it was not long before the first online trading accounts started to emerge and just look where we are today. I couldn’t help seeing so many similarities with blockchain technology and so I was taken in by its transformational potential. As the finance sector was looking so closely at the technology and with my City background, it was easy to understand what it could do for the industry.

At the same time, we’ve seen an explosion in fintech which also takes me back to when trading moved from exclusively telephone, then online, then to mobile applications. Technology is constantly evolving, so whilst it is different there are many similarities.

Q Where it is a relatively new industry, can you take a different path with your PR strategy?

One size definitely doesn’t fit all and different clients require different strategies. For example, we’ve undertaken all manner of activities from media training and video production to research and white papers. The communications mix encompasses many different mediums and of course social media is a very important part of that. The main difference is the sector and even within industries that are perceived as the same, the nuances can mean different approaches are required. The best example here is cryptocurrencies and blockchain. One relies on the other, but they are not the same. You can have a blockchain without a cryptocurrency, Hyperledger for example, but you can’t have a cryptocurrency without a blockchain, the OneCoin debacle being the best example here. As a result, a client I am working with that has built their technology solution on Hyperledger, the focus is on the technology press and not crypto outlets.

Q You are the founder of Nominis which offers the full solution to your clients. How does that help them?

As mentioned above, different clients need different types of media exposure. Some are private companies and some are publicly listed, so the disciplines are

different, but Nominis provides both corporate (or as some people refer to it, trade) and financial communications. For public companies, connecting with investors is equally as important and so organising investor events is another key area. We also undertake content generation, media training, video production and research to inform white papers all of which is designed to provide an all-encompassing communications program with consistent messaging throughout.

There is a real problem in PR and communications at the moment where journalists are inundated with competing news flow from an industry that far out numbers them, so we offer something different. The Nominis proposition for listed businesses is unique and designed to provide a much more effective relationship between client and adviser, bringing together other elements needed to maintain a listing, leading to better return on investment for the company.

Q What was it like going out on your own?

marketing departments, or is it all outsourced to you. What is the model you work under? It depends on the client’s set up and again whether they are private or publicly listed. Most of Nominis’s clients are start-ups and so they are too early stage to have a dedicated in-house PR and marketing resource. We help to fill that void and work directly with CEOs, founders and senior management. But where the client is larger with their own in-house PR or marketing then that’s who we naturally work with. Again, it depends, as a public company that is approaching full year or interim results, then we are working more with the client’s CEO, CFO and their other advisers.

Q Some brands have massive challenges in building their narrative, what tips can you give out to develop a coherent message?

It’s important to differentiate and avoid over used terms. Journalists keep telling me that they would be multi-millionaires if they were given £1 for every time someone emails them or calls pitching the next “disruptive” product or technology solution.

There’s always been a part of me that has wanted to start my own business and as I am sure anyone who has done it will tell you, it is nerve-racking! It takes time, so persistence is key and starting on your own would be even harder without a broad network. One of the most important things is never to burn any bridges and what’s interesting is that as well as working with a diverse range of businesses in multiple sectors, I am also working with contacts and past colleagues from the early days in the retail broking space. Q Do you work in coordination with your clients

Consistency is also key and having a having a spokesperson who is objective and happy to provide opinion that diverges from the middle ground or current trend in news is worth its weight in gold as the media like to have insights from experienced professionals.

Q Is there a checklist that CEOs should look for when hiring a PR agency?

They should use an agency that is able to demonstrate

return on investment and provide more than simply media coverage. A CEO or founding entrepreneur will always believe that their product or service is the best and most newsworthy item of the day and whilst this is often the case, it is important to be realistic with expectations of what is achievable from a media point of view. Clients value the advice provided by agencies as much as the press coverage they get, as the communication flow to and from journalists can help inform business strategy as well as the corporate messaging. This is why small niche and boutique agencies are popular amongst many business leaders as they know they are going to be served by a senior member of the team that pitched to them, rather than meeting the agency’s directors and then being passed onto a totally different team once engaged.

I didn’t appreciate just how easy it is to set up your own business. Literally, within days I had decided on a company name (with the help of my wife!), incorporated the business, bought the URL, set up the website and opened a business bank account.

Differentiation is important, demonstrate where you can add value. It often pays to align your interests with your clients by being flexible with your pricing as they will value your services more if you also benefit from their success as a business.

If people have an itch to scratch and have always wanted to set up themselves, the only way you’ll do it is to take the plunge. However, do not underestimate how hard getting things to a viable position is!

Q You are now viewed as an industry veteran, what advice could you pass on to the young Angus?

Build your network as soon as you can and keep building it. Always be honest in your advice and don’t be afraid to advise a client if something that they want to communicate isn’t newsworthy. As mentioned before, never burn your bridges, as you never know when you may need to cross back over them again.

Q What advice would you pass on to readers

Q What’s the best way for readers to find out more about your services?

The website is https://www.nominis.co/ (NB not “.com”, just “.co”). I am also accessible via LinkedIn and Twitter @AngusJMCampbell, but I’m afraid I don’t really engage on Facebook! We do of course have other information and collateral that we can share with people if they get in touch. There’s never any harm in having a discussion in the first instance, you never know where it might lead.