In an unusual move, ICR, a communications consultancy, has announced it is launching a capital markets advisory branch.
The US-based firm, which has offices in New York, Norwalk, Los Angeles, Boston, San Francisco and Beijing, will be offering ‘independent counsel and deal oversight spanning IPOs, follow-on offerings, strategic M&A and capital sourcing’ through its new subsidiary ICR Capital, according to a company release.
CEO David Galper, a consultant at the firm since 2014 and former investment banker specializing in the retail and consumer space, and Evelyn Infurna, also a consultant and previously managing director in equity capital markets for real estate at Citi, will head the new entity.
‘ICR Capital launches with the vision of bringing the highest level of strategic counsel and world-class execution to companies in need of an adviser that is industry-focused and truly independent,’ says Galper in the release. ‘This is a key differentiator in the marketplace and also uniquely positions our clients to articulate the merits of a transaction to all key stakeholders including investors, the media, employees and business partners. We are very excited about this important initiative and look forward to providing a suite of new services that will benefit private and public companies pursing a range of transactions.’
The advisory sphere has traditionally seen investment banks branch out into IR, with Deutsche Bank, JPMorgan and Citi, to name a few, offering IR consultancy services. Recent high-profile hires include Lisa Williams, formerly head of IR at Debenhams for eight years, and Dennis Walsh from Sharon Merrill joining Citi’s depositary receipts group to provide IR advice to its client base in the EMEA region and the US, respectively.
