Morning Star Global Review
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CHICAGO,IL: Financial services company Morningstar has issued an RFP for a global communications AOR.
The Chicago-based investment data and insights firm, which is known for independent research and ratings, is seeking an agency to support its strategic communications initiatives globally, a spokesperson said via email.
The agency will work across Morningstar’s diversified global business lines to design and execute corporate communications strategies, including traditional and social media programs, content support and reputation management. Morningstar is planning to onboard the selected agency in Q2 2023.
Cognito is the incumbent on the account. A Cognito spokesperson was not immediately available for comment.
Stephanie Lerdall, head of corporate communications for Morningstar, said in an emailed statement that Cognito has been “a great partner” to the company’s communications teams across geographies over the past two years. However, as it has grown to $2 billion in revenue and 12,000 employees worldwide, as well as gaining a leadership position in ESG data and insights, it is seeking a firm with a larger global footprint and additional capabilities.
Before Cognito, Morningstar worked with FTI Consulting. It suspended its relationship with FTI Consulting in late 2020 after a New York Times article accused the agency of creating a fake Facebook persona, strategizing about how to derail online climate conversations and other activities.
In Q3, Morningstar’s organic revenue grew 8.5% to $468.2 million while its operating income declined 67.6% to $22 million.