Magazine article Marketing

Henderson Role Lost in Cost Cuts

Magazine article Marketing

Henderson Role Lost in Cost Cuts

Article excerpt

Henderson Investors has abandoned its plans to become a consumer brand and has axed the post of marketing director held by Lindsay Firth-McGuckin in a bid to cut costs.

The decision marks the end of an attempt to make the company and its products accessible to consumers, following the successful entry into the market by Virgin Direct.

Firth-McGuckin moved to Henderson from Liverpool Victoria Friendly Society two years ago, and was responsible for the company's change of name from Henderson Administration and the signing of a [pounds]3m sponsorship deal with the Williams Formula 1 racing team. The company was expected to launch its first TV campaign this year, and is understood to have drawn up an initial pitch list before cancelling the project.

One source said the decision was taken because the firm was not achieving the required returns on its marketing investment and did not expect the situation to improve. "The board of Henderson Investors had to make some tough decisions based on where they saw the business going and they have decided they don't want to market to the public anymore. …

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