A new PR consultancy created by heavyweight alumni from Brunswick, Maitland, Financial Dynamics and Grandfield looks set to radically alter the UK communications scene.

The new agency, named Stockwell Group, has been founded by Brunswick partner Tim Burt, former CEO of Maitland Philip Gawith, Financial Dynamics co-founder Julian Hanson-Smith and former CEO of financial PR agency Grandfield Nick Boakes.

Gawith, Burt and Boakes will hold an equal share, with private equity firm Iceni Capital holding a significant minority stake.

The move, roundly described as the most significant addition to the City PR scene for a decade, will come as a profound shock. As well as the vast experience of its executive board, Stockwell is expected to be well funded, and murmurings of client and staff defections are already circulating in the industry.

Burt, who has been at Brunswick for the past five years after 16 years at the Financial Times, and Gawith will be free to start at the conclusion of notice and legal restrictions. Hanson-Smith will chair the group.

"The professionalism of reputation management lies at the heart of Stockwell," said Hanson-Smith. "Reputation risk has clearly moved up the boardroom agenda in recent years. Stockwell will aim to set new standards in the advisory marketplace, applying risk management tools to promote and protect corporate reputations."