Serco

Maitland was appointed as Serco’s retained adviser in 2015
Challenge

Support the company as it restored trust and confidence in the outsourcing group's brand under a new management team.

Insights

Serco’s reputation had been affected by issues with a number of key government contracts, which was later followed by write-downs, heavy losses and a £555 million rescue rights issue. A campaign was needed to assure key stakeholders that necessary action was being taken to repair the group’s balance sheet and that it could still be trusted to run key public functions.

Strategy

  • Two-pronged approach using IR to rebuild Serco’s equity story and a corporate PR programme to celebrate the company’s successes and rebuild its reputation.
  • Under-promise and over-deliver on pipeline, contract bidding and provisions.
  • Develop Serco’s role as a though leader in areas like justice, immigration, transport and its work with some of the most vulnerable people in society.

Outcome

Working alongside chief executive Rupert Soames and his team, Maitland has helped Serco develop its fan base in the City, evidenced by its improved share price - even though it is widely accepted that its turnaround will take time. Recent contract wins have been widely and positively covered by the media and journalists are eager to talk to the company about a wide range of issues.