Financial Times Loses Payne To Associated Newspapers

Claire Payne, UK ad director of the Financial Times, has been poached by Associated Newspapers to become managing director of its free ads paper Loot.

Payne, who has been at the Financial Times for the last five years, played a major role in overseeing the paper’s recent redesign and the introduction of a new Saturday magazine, which included restructuring the sales team.

In her new role, Payne will be responsible for directing Loot‘s on-going business strategy, driving circulation and increasing revenue at Loot.com. She will also be charged with developing the Loot brand with the backing of Associated Newspapers.

Payne will report directly to managing director of Associated New Ventures, Stephen Miron, who commented: “I have no doubt Claire will play a significant role within the company in years to come. She will bring excitement and capability to both the paper and website and is sure to herald great success in the future.”

Payne added: “Loot is an exciting and vibrant company with a young, energetic and inspiring team. My new position will give me the chance to run a unique brand within an illustrious newspaper group. It’s a great business opportunity and has huge potential within its market.”

Her departure comes shortly after the FT‘s marketing director, Tim Ward, who had just overseen the launch of a high-profile ad campaign to support an relaunch of the paper (see FT Pushes Redesign With £2 Million Branding Campaign), stepped down to join FriendsReunited.

Pearson recently announced that advertising revenues at the Financial Times were down by 18% in the year to April, with the outlook remaining uncertain (see FT Ad Revenue Drops 18% In Twelve Months, Says Pearson).

Associated Newspapers: 020 7938 6000 www.associatednewspapers.co.uk

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