"There are some mutual opportunities for us,
he added. "For instance, Fitch has a retail design capability in the automotive industry, especially in London, and we can offer global car companies face-to-face expertise for exhibitions and press events - that's our turf."
There are also plans to develop a brand experience offering. Bamford said: "We have done brand experiences but it has been a sporadic part of our business. Fitch has years of experience and has a strong presence in the brand environment field."
The partnership means Pci:Live will now report through Fitch Worldwide and the fee income, geographical spread and business mix will be shared.
According to Bamford there will be no operational changes at Pci:Live, and a team will be appointed to lead the interface of the Pci:Live offer within Fitch Worldwide.
The news follows the merger of HP:ICM and PCI Live Design earlier in the year (Marketing Event, January). Cordiant bought PCI Live the previous summer.
Cordiant Communications financial results for the year ended 31 December 2001 reported a difficult 12 months, with pre-tax profits plummeting to £25.7m, compared with £57.5m in 2000. Reported turnover rose 17.9% to £605m but on a like-for-like basis it fell 8%.
Cordiant chief executive Michael Bungey said: "The measures we have taken to reduce our cost base are targeted to deliver a 50% improvement in margin."