Magna Carta launches financial division

Rey Wium, a well know rated analyst will head up the operation, which will offer financial communication and investor relations to new clients as well as Magna Carta's current blue chip client base.

Says Michele Anderson, managing director: "We have gone the route of employing an analyst to head up our division because we believe that there is a gap in the market for IR which focuses on offering analytical insight and real value to clients. Added to this, the division will be supported by Magna Carta's well established corporate and brand offering which ensures a holistic approach to communication where IR is one element in a much broader mix."

"Historically, investor relations in South Africa lagged behind the rest of the world, but with the increasing globalisation of South African companies, local standards are slowly rising," commented Wium.

High profile corporate failures, more stringent local disclosure and governance requirements as well as onerous international accounting standards require improved reporting and communications.

Rey Wium said: "Having spent many years analysing local and offshore stocks, the difference in the quality of information distributed by IR professionals at home and abroad was substantial. Although there are pockets of excellence in the local market, I believe South Africa is ready for a professional, analytical approach to IR and we plan to set the local benchmark. To achieve and maintain world-class investor relations, strategic advice on current best practice and developing trends in communicating with global markets is vital. A programme based on this advice is actually now a necessity in the competition for global investment funds."

Magna Carta is part of the TBWA Worldwide network, and ultimately part of the Omnicom Group, listed on the New York Stock Exchange. Magna Carta has an affiliation with Gavin Anderson & Company, one of the top three global investor relations groups who have in the past year advised on 98 transactions, both large and small, with a combined value in excess of $55 billion.

Rey Wium added: "Combined with our many years of financial, corporate and brand public relations experience, access to the Gavin Anderson network, resources and intellectual capital enhances our unique, fused approach to communications."