The 2023 North America PR Agencies of the Year are the result of an exhaustive research process involving more than 150 submissions and 50 meetings with the best PR firms across the US and Canada.
This write-up originally appeared on the PRovoke Media website. Read more about the 2023 Financial PR Agencies of the Year here.
Finalist
BackBay Communications (Independent)
Backstory
Bill Haynes launched BackBay Communications in 2005 in Boston as a boutique PR firm focused on asset management and private equity, but over the last few years has evolved the firm to keep pace with the changing financial services industry, adding fintech and impact investing to its expertise. BackBay today has 50 retainer clients supported by a 32-person staff comprised of former financial journalists and marketing execs in addition to the skilled PR pros responsible for the 90% client retention rate BackBay has maintained for the last five years.
Locations
BackBay is headquartered in Boston and has an office in London.
Performance
BackBay has grown every year since its founding and 2022 was no exception. Last year, the firm’s revenue grew by 26% to $6.1 million. BackBay has increased its headcount by 50% over the last two years to support that growth, adding 12 new employees in 2022 alone, creating a 32-person staff. The addition of new impact investing and ESG clients increased BackBay’s clients in that sector by 75% in 2022, when the firm formally launched an impact investing and ESG practice.
People & Culture
That BackBay’s staff is organized by specialty — private equity, asset management, fintech and impact investing — doesn’t diminish the premium the firm puts on collaboration around everything from client wins to team building. Charitable endeavors include supporting employees’ volunteerism and donations, group volunteerism and annual contributions to Save the Children and the Greater Boston Food Bank. Inclusivity is one of BackBay’s core values; More than half of the firm’s employees and 75% of 2022 new hires are women.
Thought Leadership & Work
In 2022, BackBay promoted 132 deal announcements for 33 private investment clients and publicized 12 fund closes totaling $14.8 billion on behalf of private equity clients. From January 2022 to January 2023, the agency secured 151 pieces of coverage highlighting Karen Clark & Company’s expertise in catastrophe modeling.
— Diana Marszalek, PRovoke Media
