GroupM, the investment arm of WPP, is merging the global operations of its agencies MEC and Maxus under the leadership of MEC’s CEO Tim Castree (pictured).
GroupM’s portfolio will now comprise three global media agency networks – Mindshare, MediaCom, and the new yet-to-be-named company – each with more than one billion dollars in annual revenues.
GroupM will use cost savings from the move to make investments across all of its agencies, including its ‘digital-first’ agency Essence which it acquired in 2015.
“We’re committed to improving our service to clients,” said Kelly Clark, global CEO, GroupM. “These moves will give us greater focus, help us innovate, and improve our speed of delivery.”
Current Maxus CEO Lindsay Pattison will remain as GroupM’s chief transformation officer, an appointment made only last month.
Castree, who Clark named as CEO of MEC in November 2016, said: “Maxus and MEC share common values and ambitions. Both networks have a strong local market presence and entrepreneurial drive. Together, we believe we can create an exciting new media, content and technology agency which we look forward to introducing soon.”
Pattison added: “We’ve clearly signalled our ambition to transform, and we mean business. This allows us to more meaningfully invest in each agency’s future – retaining and attracting the best talent with inspiring and rewarding workplaces, creating differentiated cultures and approaches, and sharing in a focus on helping clients win.”
