Winner
OppenheimerFunds Corporate Affairs Team: The power of PR in uncertain times

In the summer of 2001, OppenheimerFunds CEO Bridget Macaskill unexpectedly resigned. Two months later, on September 10, her replacement, John Murphy, announced a sweeping corporate reorganization. The following day, the worst terrorist attack in US history brought down the company's headquarters, located at Two World Trade Center.

With more than 7 million shareholder accounts and $120 billion in assets, the firm was the largest money-management organization headquartered in the Twin Towers. Without an effective communications strategy, the ramifications would have been devastating for the company itself, as well as for the millions of customers who invest their money with Oppenheimer. The four-person PR team of Rob Densen, Gregory Stitt, Jeaneen Pisarra, and Karla Cerelli was faced with convincing the public that the organization was operational, and preventing investors from making impulsive decisions about their finances.

With a $50,000 operating and $100,000 research budget to work with, the Oppenheimer PR team built its program on a single abiding objective: Be as good as the best media they deal with, modeling the highest journalistic standards of integrity, responsiveness, innovation, clarity of expression, and customer concern and focus.

From advocacy research programs to investment briefings to standard media placements, all of the team's efforts were infused with a relentless focus on quality execution. Noteworthy initiatives included providing access to the company's trading site to key media outlets, as well as offering The Wall Street Journal, The New York Times, and Smart Money access to Oppenheimer's leading managers when the markets reopened on September 17. The team also organized the industry's first post-September-11 investment briefing.

In addition to its rebuilding efforts, the PR team's ability to maintain full functionality in other areas of the business simultaneously was successful. In the wake, the department still managed to provide communications support during Oppenheimer's acquisitions of Tremont Advisors and Gulf Investment Management, the hiring of a new Investment Grade Bond team, and the awarding of money-management mandates from Washington Mutual. New CEO John Murphy also received prominent media placement in Smart Money magazine, when he was named one of the most influential people in investment.

Judges of the category commended this small corporate team's ability to overcome adversity. “It is clear that the Oppenheimer group faced an incredibly difficult challenge with the World Trade Center collapse. The way they managed to keep the company's image intact on a small budget and with no external agency is exceptional,” noted an impressed judge.

Honorable Mention
FAO Inc.: Toy Story: The integration of FAO Inc.

FAO, Inc., parent company of FAO Schwarz, Zany Brainy, and Right Start stores, consolidated its PR functions to a two-person team when the three organizations came under one umbrella in January 2002. With a budget of $210,000, Alan Marcus and Bob Friedland were responsible for generating consumer awareness of FAO, Inc. as a single entity, as well as its individual brands. The two, with the help of PR firm Casey, Sayre and Williams, introduced FAO, Inc. to the financial community at the annual Toy Fair trade show. They also secured a market-opening event, where senior FAO executives took part to mark the debut of the company on the Nasdaq. Grand-opening events for 90 new Right Start “mini stores” – located inside Zany Brainy stores – were planned, as well as the launch of an FAO Schwarz store in LA.

Finalists 2003
FelCor Marketing & Communications: 2002 FelCor PR campaign

FAO Inc.: Toy Story: The integration of FAO Inc.

Lexmark PS&SD North America PR and Communications Team: Lexmark PS&SD PR and communications team

OppenheimerFunds Corporate Affairs Team: The power of PR in uncertain times

Sponsored by Fleishman-Hillard
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