Today, Bloomberg launched new customized tools and analytics specifically for investor relations professionals, whose roles within corporations have dramatically evolved over the past decade.
Historically, these individuals were primarily asked to communicate with investors and analysts about the events that could potentially affect the organization’s stock value. Today, they are involved in wider company initiatives, including assessing competitive threats and measuring strategic initiatives. The abilities of an IR professional are key in attracting a stable and growing shareholder base, and can ultimately influence the company’s overall stock value.
Given the continued market fluctuations and heightened regulatory scrutiny, corporations are seeking IR professionals that have a broad understanding of the markets and the needs of shareholders. Korn/Ferry Institute found 42 percent of current IR officers (IROs) are new to the role in the past two years, more than 15 percent are former sell-side or buy-side analysts and 21 percent hold CPA designations, up from 15 percent in 2010. Research also shows these individuals increasingly report directly to the CFO, CEO, president or chairman. The Fisher School of Accounting at the University of Florida found that “IR has grown from a peripheral component of the CFO’s responsibilities in the 1980’s to a demanding professionalized function.”
“We’re moving toward more credentialed IROs and more of a senior role,” said David Farwell, senior vice president at ABM Industries. “Diverse experience is becoming far more important to the job, as is a sophisticated knowledge and use of technology.”
Having collaborated with IR professionals across industries and countries, Bloomberg has built ways to better monitor the markets, manage current investors and analyst relationships, and prospect for new investors.
“To be a successful investor relations officer today, you need the right tools to analyze your company’s market position so you can better communicate to shareholders, analysts and your own management team,” said David Erdman, manager of investor relations at Quicksilver Resources. “The Bloomberg Professional service provides the customized, sophisticated solution I need to do my job better and more efficiently.”
To learn more about the Bloomberg Professional service and the new investor relations tools available to subscribers click here.