| | BACKGROUND Wrights works with IOOF Holdings Limited, one of Australia’s leading financial service organisations, to develop communications strategies for leveraging the brand both within industry and general media. In late November 2008, IOOF advised Wrights it would be seeking to merge with Australian Wealth Management (AWM) to create a leading financial services company with more than $88 billion under management, advice and administration. Market capitalisation of the merged group, based on current prices would be approximately $700 million. THE CHALLENGE After the Australian Stock Exchange closed Friday 5pm, Wrights received a brief from IOOF to develop a comprehensive stakeholder communications strategy and all communications by the time the stock exchange opened 9am the following Monday. WHAT WE DID In two days over the weekend, the Wrights team agreed a strategy with the management teams and boards from both companies then drafted a series of adviser communications, media materials, staff communications, analyst briefing notes and key messages which ensured senior management, staff, and all relevant stakeholders were adequately informed of the merger proposal. Communication with media in an informative and swift manner was crucial to the success of the announcement. An analyst briefing was conducted on the Monday morning and eight business media interviews were secured and coordinated with IOOF and AWM executives the same day. | | BENEFITS TO CLIENT A well planned and executed communications program ensured all stakeholders were informed of the merger in a timely and effective manner
A targeted media relations program, activated in a controlled manner, ensured complete control of the message Comprehensive communications briefings were given to all senior management to ensure they were adequately prepared to deliver clear, concise and consistent communications to staff, stakeholders, analysts and media Both companies were commended by stakeholders for their professional, well prepared and thorough approach RESULTS By responding immediately to our clients needs and carefully communicating key messages, Wrights generated widespread, positive coverage of the announcement with more than 30 reports secured in leading national and metropolitan papers, trade publications and Sky Business TV News, following a thorough briefing session with key industry analysts. | |
