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The New Delhi-based public relations outfit Genesis PR and Burson-Marsteller, the world's leading public relations and communication counseling firm, yesterday signed a Memorandum of Understanding (MoU) under which Genesis PR will 'exclusively' represent Burson-Marsteller in India. "India is rapidly becoming a key market and our partnership with Genesis PR will enhance our quality of services and reach," said Bill Rylance, president, Asia-Pacific, Burson-Marsteller, who was in India to sign the MoU.
This move comes just one month after the US-based Burson Marsteller, a part of the WPP group, announced its break-up with earlier partner Roger Pereira Communications. In June, both the companies announced they would henceforth function as "two separate entities". The two firms had a 51:49 joint venture, with Pereira holding a majority stake. Post the break-up the Pereira family bought out the 49 per cent equity stake held by Burson Marsteller.
According to sources, when the multinational walked out of its earlier JV, Roger Pereira Communications retained most of its biggest clients - including General Electronic, Citibank, Colgate, Johnson & Johnson and Kelloggs. Which, in effect, means little in terms of readymade business for its new partner.
But before that, here's Burson-Marsteller's credentials. Established in 1953, it has 75 offices in 34 countries, linking approximately 2,000 professionals in a global network. In 1979, the firm joined the Young & Rubicam family of companies, which in October 2000 was acquired by WPP Group plc, one of the world's leading communications services groups.
After the MoU was signed yesterday, Genesis said in an official note that this alliance will make available to Genesis PR Burson-Marsteller's "global experience, international expertise and knowledge tools". The note added, "In particular, the new partnership will provide clients of Genesis PR the benefit of collaboration with the world's most respected public relations firm". No doubt. Burson-Marsteller today leads the industry with its knowledge of and insights into the relationship between communications and the reputation of companies and their CEOs.
Talking about the rationale for the alliance, Prema Sagar, principal and founder, Genesis PR, said, "This partnership is part of Genesis PR's core strategy to provide its clients and associates the best in public relations services and global opportunities. With this alliance, Genesis PR hopes to grow its offering and reach." On his part, Christopher Komisarjevsky, president and CEO of Burson-Marsteller Worldwide, said: "Genesis PR has a unique understanding of the local marketplace. Through this alliance, Burson-Marsteller will be able to provide clients with services that are global in reach and local in relevance." © 2002 agencyfaqs!