Strengthening external communications at NIESR

Phil acted as a media consultant at the National Institute of Economic and Social Research to help the communications team boost the profile of the academic think tank. During the five months from November to late March, he assisted with the existing media coverage programme and focused on expanding the range and penetration of the media’s coverage of its activities.

This has centred around using three key events – the General Election, our quarterly National Institute Economic Review, and the Budget – as a platform to push out material based on our economists’ and scientists research. This resulted in a sizeable number of articles placed in media, interviews by journalists and appearances on TV and radio news programmes as well as major take-up of social media.

The team created a microsite on our website dedicated to the Election Analysis to house nine election briefings by NIESR staff in later November and early December in the run-up to the 11 December polling day. It worked with EconFilms to produce six video-casts by NIESR staff and curated five podcasts by NIESR staff. On the back of these, it was able to pitch opinion pieces that ran in various media.

Britain after Brexit. As there was no funding for new research, the team aimed to maximise NIESR’s economists’ research and knowledge to put out opinion articles for mainstream media and make them available for interview.

February saw the publication of the centrepiece quarterly publication, the National Institute Economic Review. This was covered widely in the media following a press conference organised in media and as a result of pitches to both print and broadcast media. It also led to a number of appearances on radio, opinion columns by NIESR staff and mentions in opinion pieces written by others.

The Budget. The team planned for this set-piece event by identifying issues that were likely to feature in the Budget and in which staff had expertise. This led to placed articles ahead of the Budget and major pick-up of the new forecasts. The institute published a booklet of collated reactions on the afternoon of the Budget.

Coronavirus. Although this became a major economic issue in mid-March, the team was able to promote material written on the issue.

Focus on MiFID II and fund managers

The EU’s Markets in Financial Instruments Directive (MiFID II) will radically change the way that its securities and derivatives markets are regulated. While the impact of the 148-page document will affect every nook and cranny of financial markets, one of the most significant impacts will be on investment managers.

Phil Thornton looked at the challenges that fund managers and their advisers faced in two article for the magazine and website of the Chartered Institute of Securities and Investment.

The first looked at one of the most important issues – the need for sell-side companies to separate charges for execution from charges for access to research. Phil spoke with a number of fund managers and advisers to get an idea of how prepared they would be for MiFID II. The good news was that it showed that more than 60% have already set, or begun to set, their research budgets, and are making decisions on which payment methods to use. The article is here.

The second identified the sizkey themes that financial participants need to bear in mind: governance; advice; trading and execution; fees and inducements; corporate governance; and trsnaparency. The article is here.

Highlighting research impact at the LSE

Working as a freelance consultant, I helped to generate content for the London School of Economics’ research impact website, including writing summaries of the impact of various academics in areas including macroeconomic policy, regulation of markets, education impacts and public policy impacts.

The full range of almost 70 impact studies of which I was involved in around 20 can be found here: http://www.lse.ac.uk/researchAndExpertise/researchImpact/Home.aspx