Bozell wins global Financial Times account

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LONDON -- Delaney Fletcher Bozell, London, has retained its hold on the Financial Times' European advertising account and has expanded it to a global remit as its parent Pearson announced that it could invest $158m over five years to boost the newspaper's international circulation. Saatchi & Saatchi and Young & Rubicam also pitched.

Financial Times Chief Executive Stephen Hill says of the assignment: "This is an extremely exciting and challenging time for the Financial Times. Marketing will play an important role in our plans for expansion and we are delighted to continue working with Delaney Fletcher Bozell."

The main thrust of the global expansion will be the U.S. As part of the initiative, the business newspaper's editor, Richard Lambert, will relocate to New York for 12 months from July to oversee editorial developments and to head up the company's presence there. "American business is becoming more global in character, and it needs a global business newspaper relevant to its needs. That is what we are going to produce," Lambert says.

The London-based newspaper will not try to match the detailed U.S. reporting of the Wall Street Journal, but additional correspondents will be assigned to strengthen business coverage. News will also be repackaged to make it more relevant to U.S. readers.

With 10 global printing sites around the world, the Financial Times will establish two more contract sites in Italy and Singapore.

FT aims to boost its global circulation from 300,000 to 450,000.

Copyright March 1997, Crain Communications Inc.

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