Scoop: Whit Clay departs Sloane & Company for Longacre Square Partners
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Sloane & Company co-CEO Whit Clay is departing the strategic communications firm after more than 25 years.
- He will join Longacre Square Partners as partner and head of its New York office, according to a source familiar with the hiring.
Why it matters: Clay's departure speaks to a broader shift in the agency landscape as talent flocks to specialized, independently owned firms.
Catch up quick: At Sloane, Clay managed the crisis and financial communications practices and advised clients like IMAX, Liberty Media, Bloom Energy and Apollo founder Leon Black.
- Following Clay's departure, Darren Brandt will take on the role of sole CEO. The firm has also added Melissa Green as chief growth officer.
- Sloane is part of the Stagwell Group, having been acquired by SKDKnickerbocker in 2020.
The big picture: Recent layoffs and consolidations have reshaped the mega-firms, while specialized firms have seen a flow of cash from private equity, which will continue to shake up the landscape.
- Challenger firms have grown in prominence as business leaders seek out more strategic communications counsel on corporate governance and engagement, crisis and stakeholder management, geopolitics, heightened regulatory scrutiny and the rise of artificial intelligence.
Zoom in: Longacre Square Partners was founded by Sloane alums Greg Marose and Dan Zacchei in 2022.
- Longacre has a team of 40 and recently expanded into Canada, hiring Amy Freedman as partner and head of Canada.
- Clay is expected to expand the firm's M&A, private equity and corporate issues management business.
- Longacre brought in more than $30 million in billings in 2024, sources tell Axios.
Context: The firm supports corporate clients like CVS Health, GameStop and Bausch + Lomb and advised on 129 shareholder activism disputes in 2024, placing them first in the communications advisory rankings, according to Bloomberg.
- Of note, Longacre recently advised Elliott Management in its dispute with Southwest Airlines and Ancora in its dispute with Norfolk Southern.
- Longacre did not respond to requests for comment.
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