Bell Pottinger's 50-member Asia arm has split from its scandal-tainted parent, rebranding as Klareco Communications.
Hong Kong-based Piers Pottinger, co-founder of BP, will helm the new entity named after the Esperanto word for "clarity."
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Piers PottingerAccording to a letter to clients, the Asia business is "entirely ring-fenced and solvent." It emphasized the BP's Asian unit has always been a "separate entity" from its corporate parent.
Klareco's teams are "intact, we continue to serve our clients, and it is mostly business as usual.”
BP's staffers in London yesterday were updated on the firm's dire financial condition, which may lead it into administration next year in the event a buyer isn't found.
The firm's travails stem from a racist campaign that it ran in South Africa for the controversial Gupta family.
That campaign triggered resignation of CEO James Henderson and BP's expulsion from PRCA, Britain's ethics watchdog.
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