Advertising firms Camp Chipperfield Hill Murray and Ping are planning a merger to create a major player in financial services marketing.
The aim of cchm:ping is to be in the top five independent financial agencies in the UK. It will offer a full service, including research, advertising, direct marketing, design and digital communications.
The new company will comprise around 60 people with a projected fee income of around £8m. Ping will move into CCHM's offices in Victoria, where the merged company will service CCHM's existing 20 clients as well as 12 more from Ping.
CCHM's clients include More Than, Legal & General, Henderson and St James's Place while Ping is mainly concerned with high-street retail businesses including Nationwide, Bristol & West and Alliance & Leicester.
The merger will see Ping managing partners Rupert Pybus and Paul Gordon join CCHM chairman Lucian Camp and deputy chairman Sean Ingram as board directors.
CCHM senior copywriter Chris Hill has been appointed deputy creative director and Barry Neeves joins as finance director, having recently held a similar role at FCB London.
CCHM creative director Simon Antenen is leaving to pursue other interests.
Camp says: “I think we are probably part of a trend. What used to be a fragmented industry with lots of providers and IFA firms is quite rapidly consolidating. We are looking at less of a cottage industry in financial marketing services.”