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Blue Marlin Partners handles PR for San Francisco’s First Republic Bank, which has been caught up in the market turmoil surrounding the bailouts of Silicon Valley Bank and Signature Bank.
Despite First Republic’s March 12 announcement that it bolstered its financial strength though access to additional liquidity from the Federal Reserve and JPMorgan Chase, its stock price closed down 62 percent to $32.21 on March 13.
First Republic founder Jim Herbert and CEO and Mike Roffler said the bank “continues to fund loans, process transactions and fully serve the needs of clients by delivering exceptional services.”
With assets of $213B, First Republic operates “preferred banking” or “wealth management” offices in Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (OR), Bellevue (WA), Jackson (WY), Boston, Greenwich, New York and Palm Beach.
Blue Marlin Partners CEO/founder Greg Berardi handles First Republic.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
