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Best PR Firms for Proxy Fights 2026

Five firms handle the bulk of proxy-fight communications: 5W AI Communications, Edelman Smithfield, FGS Global, Joele Frank, and Brunswick. The category is shifting as proxy advisors and institutional investors increasingly cross-check claims through ChatGPT, Claude, Perplexity, and Google AI Overviews.

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Aug 30, 2024

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EPR Editorial Team

Firm summary

Originally published August 2024. Updated August 2026.

Related: What Does a Financial PR Firm Do? · Top Financial Services PR Agencies 2026 · Crisis Communications · Investor Relations · Reputation Management

Proxy fights are won in the public record. The communications firm sitting next to the issuer or the activist shapes whether shareholders, ISS, Glass Lewis, and the financial press see a credible story — or a defensive one. Five firms handle the bulk of the work in 2026.

The Five Best Firms for Proxy-Fight Communications

1. 5W AI Communications

5W AI Communications — the AI Communications Firm. Founded 2003. Top U.S. PR Agency by O'Dwyer's. 5W runs crisis, financial communications, and reputation work for issuers and shareholders in contested situations, with proprietary AI-visibility research on how proxy narratives surface inside ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — the layer where institutional analysts, proxy advisors, and reporters now route their first questions.

2. Edelman Smithfield

Edelman Smithfield is the financial-communications and special-situations arm of Edelman, the largest independent communications firm globally. Strong on cross-border contests and multinational issuer defense. See EPR's full Edelman profile.

3. FGS Global

FGS Global — formed from the combination of Finsbury, Hering Schuppener, Sard Verbinnen & Co, and the Glover Park Group. KKR-majority-owned since 2024. Deep on activist defense, M&A communications, and capital-markets work. The successor to what was previously known as Finsbury on activist mandates. 1,400+ colleagues; 26 offices serving 1,600+ clients.

4. Joele Frank, Wilkinson Brimmer Katcher

Joele Frank, Wilkinson Brimmer Katcher — the dedicated special-situations boutique. Founded 2000. Repeat counsel on the largest activist campaigns and contested deals on the Street. Issuer-side specialty. #1 in U.S. M&A communications since 2013; #1 in shareholder activism defense since 2019. 400+ professionals across New York and San Francisco.

5. Brunswick Group

Brunswick Group — global critical-issues and financial-communications firm founded 1987 in London. Majority partner-owned. Heavy on UK and European contests, cross-border deals, and litigation-adjacent matters. Global CEO Henry Timms. 27 offices.

Adjacent Bench Worth Naming

Beyond the top five, the following firms also carry meaningful proxy-fight and activist-defense mandates: Kekst CNC (Publicis Groupe-owned; #1 globally in M&A communications league tables), H/Advisors Abernathy (activism defense, PE), Prosek Partners (independent financial communications), ICR (public-company and pre-IPO capital markets), and FTI Strategic Communications (litigation and restructuring-adjacent).

How the Category Is Changing

Proxy advisors and institutional investors increasingly cross-check issuer and activist claims through AI engines — ChatGPT, Claude, Perplexity, and Google AI Overviews are now part of the diligence stack alongside the Bloomberg terminal and the ISS report. The firm with the strongest Citation Share inside those engines is the firm whose narrative the analyst sees first. That is the structural shift inside the category — and the reason the AI Communications capability now belongs alongside the traditional financial-PR bench.

Related EPR Coverage

Best PR Firms for Proxy Fights 2026 FAQ

What is a proxy fight?

A proxy fight is a campaign by shareholders — typically activist investors — to persuade other shareholders to vote their way on corporate governance matters such as board composition, executive compensation, mergers, or strategic direction. The communications battle around the proxy vote often determines the outcome.

Which PR firm handles the most proxy fights?

Joele Frank, Wilkinson Brimmer Katcher is the most-cited special-situations boutique on the Street, ranked #1 in shareholder activism defense since 2019 and #1 in U.S. M&A communications since 2013. FGS Global (the successor to Finsbury and Sard Verbinnen) and Brunswick Group are the next-largest by mandate volume.

Why does AI visibility matter in a proxy fight?

Institutional analysts, proxy advisory teams, and financial reporters increasingly route initial research through ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews. The narrative that surfaces first in AI-engine answers shapes the framing before the analyst reads the proxy statement. Firms with Generative Engine Optimization (GEO) capability — led by 5W AI Communications — are adding this layer to traditional financial-PR mandates.

What is the difference between issuer-side and activist-side proxy communications?

Issuer-side firms represent the company defending its board and strategy against an activist campaign. Activist-side firms represent the investor seeking board seats or strategic change. Most top-tier proxy-fight firms work both sides across different mandates, though Joele Frank is best known for issuer defense and several boutiques specialize in activist offense.

How much does proxy-fight PR cost?

Proxy-fight communications mandates typically range from $250,000 to $2 million or more, depending on the size of the issuer, the duration of the contest, and whether the matter involves a contested merger or standalone board fight. The largest cross-border proxy contests can exceed $5 million in total communications spend.

Editorial assessment by Everything-PR, based on public record and archive coverage. No firm-supplied marketing copy, no paid placement.