WPP agency Hill & Knowlton is experiencing “huge” growth due to work in the beleagured insurance, financial and automotive industries, CEO Paul Taaffe told Bloomberg today.

Taaffe said PR firms are “outperforming” their holding companies, as PR is a cheaper alternative to other marketing functions such as advertising. “Ultimately PR is cheaper and clients are experimenting with PR firms like ourselves,” he said. Read the full story here.