Sodali and Morrow join forces to form new global IR firm
Consultancy Sodali has acquired Morrow & Co to create Morrow Sodali Global, a global firm with more than 600 clients across 30 countries.
The transaction will be ‘formative’ for the firms in understanding and engaging with investors that ‘are becoming more global and more outspoken and demanding,’ says Alvise Recchi, CEO of Morrow Sodali and founding partner at Sodali, in a press release.
The new company combines the Europe, Latin America and other emerging markets focus of Sodali with Morrow & Co’s 40 years in the US. Morrow Sodali is ‘the largest independent corporate governance, proxy solicitation, investor relations, capital markets and shareholder services firm in the world,’ the new firm states. It adds that Morrow Sodali’s corporate clients boast ‘aggregate market capitalization in excess of $5 tn’, with other clients including mutual funds and stock exchanges.
The newly created firm is headquartered in New York City and London, with offices and representatives in Beijing, Geneva, Johannesburg, Madrid, Mexico City, Paris, Rome, São Paulo, Tokyo and Stamford, Connecticut.
Morrow & Co founder Joe Morrow, also quoted in the statement, says: ‘Sodali, like us, has used a client-first, fully independent approach to become the industry leader in markets outside the US. Together, our firms can provide customized solutions for companies dealing with corporate governance, activism and shareholder issues.’
John Wilcox, chairman of Morrow Sodali, adds that the ‘collective experience and resources’ of the two companies will allow the newly formed firm ‘to serve companies of all types and sizes, wherever they are based or their stock is traded’.
The current Morrow & Co management and client services teams will remain in place.