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Hill & Knowlton Acquires Financial PR Agency Rikes Communications Cementing Leadership Position in Greater China
Press Release: Jan 23, 2008
HONG KONG - Hill & Knowlton today announced its acquisition of a majority stake in local specialist PR firm, Rikes Communications. The move cements Hill & Knowlton’s leading position in financial communications in Greater China. Rikes, founded in 2000 by Raymond Siu, specializes in financial communications and investor relations for Chinese companies as they go international. Longstanding clients of the firm include China Southern Airlines, Guangshen Railway and Huaneng Power.
Paul Taaffe, chairman and CEO, Hill & Knowlton Inc., said, “This acquisition reaffirms H&K’s commitment to Hong Kong and China. We recognize that communications is becoming increasingly sophisticated and complex. Rikes H&K will offer Chinese clients comprehensive counsel designed to guide their successful transition into the world markets.”
Hill & Knowlton Hong Kong first established its financial communications practice in 1990. Recent landmark deals include the IPOs of Alibaba.com and China Railway Group, as well as ongoing financial communications and investor relations for a roster of cutting edge and established Hong Kong and Chinese listed companies.
James B. Heimowitz, president and CEO Hill & Knowlton North Asia said, “This move is part of our continuing expansion in Greater China. The two companies complement each other in terms of both the industries our clients cover, and in the strengths each party brings to the new larger firm. I fully intend for H&K to be the undisputed leader in this sector – we are building our current leadership, seizing growth opportunities afforded by new developments in the capital markets, and aggressively growing our capacity and skills organically and through targeted acquisitions.”
Raymond Siu, managing director, Rikes Communications, added, “Together we are an even stronger player in this market and our combined force and international network will enable us to provide a even wider scope of service to Chinese companies as they go international.”
Going forward Rikes will operate as “Rikes Hill & Knowlton” and will remain in its current location. Raymond Siu continues as managing director of the new entity.