Saatchi MD Resigns/ US Sell Off

Paul Bainsfair, managing director of Saatchi’s main London agency, resigned yesterday and leaves tomorrow. There is speculation that he may start an agency with ex-creative director of Gold Greenlees Trott, Dave Trott. Saatchis appointed Pete Watkins and David Kershaw to replace Paul Bainsford – they are currently two of the six chief operating officers at the agency. Meanwhile efforts continue to raise money for the troubled Saatchi group. The latest news is that the sell off of its Gartner Group will raise $54m -£12m less than originally expected for the US subsidiaries.