News of Firms: Buchanan Joins BCW, H&K

BCW and Hill & Knowlton, which will merge as of July 1 to form Burson, bring on financial communications and capital market advisory firm Buchanan Communications as part of the new unit, effective immediately. Buchanan Communications will be a brand within Burson together with Hill & Knowlton, GCI Health and AxiCom. Founded in 1984 and acquired by WPP in 1997, Buchanan’s services include strategic counsel on relations with all capital market stakeholders, on all types of transactions (including M&A), as well as crisis and change management and all other corporate situations. Buchanan also provides a comprehensive sustainability offering and such creative services as brand, website design, financial marketing collateral design, and digital content. “Bringing the exceptional team at Buchanan to Burson gives us immediate strength in financial communications in key international markets and the firepower to expand this expertise at scale,” said BCW global CEO Corey duBrowa, who will hold the same role with Burson upon completion of the merger.

Stagwell enters into an agreement to acquire PROS Agency, a Brazil-based brand and marketing consultancy specializing in digital public relations, creative planning and production, influencer marketing, and brand development. The São Paulo-headquartered agency will serve the greater Latin America region as part of Allison, which is part of Stagwell. PROS founder and CEO Daniela Graicar, co-CEO Fernanda Tchernobilsky and Alan Strozenberg will continue to lead the agency. “PROS’ creative strategy and digital innovation expertise helps brands create engaging and purposeful conversations with consumers, consistently pushing the boundaries of PR – making them a true leader in the region,” said Stagwell Chairman and CEO Mark Penn. With clients including Amazon, Mondelez and Kimberly Clark, the agency closed 2023 with 50 percent growth and expects to grow another 20 percent this year.

The LAGRANT Foundation, which provides scholarships, career & professional development workshops, mentorships, and internships/entry-level positions to African American/Black, Alaska Native/Native American, Asian American/Pacific Islander and Hispanic/Latino undergraduate and graduate students, launched an alumni advisory council comprised of 15 previous scholarship recipients. The council will be chaired by Procter & Gamble and co-chaired by Omnicom Public Relations Group. The mission of the council is to support and enhance the Foundation in its pursuit of increased racial diversity in the fields of advertising, marketing, and public relations. “Building community and networking is essential in this industry, so it was important for us to support this initiative to better connect with TLF’s diverse alumni network,” said TLF Board Member Soon Mee Kim, EVP, chief diversity, equity & inclusion officer, OPRG.