Irish-founded London communications agency Eulogy has transitioned to an Employee Ownership Trust (EOT), transferring ownership of the business to its employees and marking a structural departure from the consolidation trend reshaping the wider agency market.

The Irish Post reported that Eulogy was founded in 1997 by Sligo native Adrian Brady, who now serves as chairman. The agency counts NatWest, Virgin Media O2, and Amazon among its clients and operates across PR, social and influencer marketing, advertising, paid media, and insights.

Brady said the decision to move to an EOT was driven by a commitment to independence rather than a financial exit. He said: "The decision to move to an EOT is one born of being fiercely independent: in our people and client-focused mindset. In a market of endless consolidation and with the decline and sunsetting of some legendary, long-established agencies we wanted a very different future. One based on continuity and consistency, all underpinned by independent, creative thinking."

Brady described the EOT as a mechanism for passing the agency's culture and values to the next generation of staff. He said: "We are excited that our EOT ensures Eulogy passes on this thinking and opportunity to the next generation. It's a structure that allows us to continue to think and act in a truly independent way. Now, all at Eulogy can be masters of their own destiny. In this new era, our client partners will continue to receive the same high level of service and team commitment we pride ourselves on, bolstered by an environment where the team is set up for long-term security and success."

Jen Smith, director of people and operations at Eulogy, said the transition reinforces an existing commitment to people-first culture. She said: "Eulogy has always been a people business and building on that is intentional. Our relationships, the way we support one another, and the culture we create together are what make this such a special place to work. Investing in our people isn't something new; it's part of who we've always been, and it's fundamental to who we want to be in the future. The Employee Ownership Trust gives everyone the opportunity to benefit from our shared success."

The announcement follows the appointment of Joss Freestone and Rich Ware as managing directors in May, alongside a brand relaunch and refreshed industry positioning.