Havas realigns in US as profits surge
French group Havas Advertising is realigning its holdings to strengthen its US properties, following the announcement of a 59% surge in net profit in 2000 to €89.2m (£56.84m).
LONDON (Brand Republic) - French group Havas Advertising is realigning its holdings to strengthen its US properties, following the announcement of a 59% surge in net profit in 2000 to €89.2m (£56.84m).
The French advertising group, which ranks fourth in the world and whose profits were boosted by its €2.1bn (£1.34bn) acquisition of Snyder Communications last year, said it would carry on a “continued aggressive acquisition programme” over the next three years.
The shake-up will see New York shop Jordan McGrath Case & Partners Euro RSCG move out of the Euro RSCG network and into Arnold Worldwide Partners. The move will give Arnold a much-needed New York office and accelerate Havas’s plans to develop it into its second global agency network. Havas acquired the Boston-based network when it bought parent, Snyder Communications, last year.
As a result, some of Jordan McGrath’s accounts, which include Procter & Gamble, Novartis Consumer Health, GlaxoSmithKline, AT&T and Hasbro, will shift and at least some of the work Arnold does for client McDonald’s will move to the New York office.
Jordan McGrath has 300 employees and claimed billings of $675m (£459.2m) in 2000. It is 31 years old and has been part of the Euro RSCG network for two years.
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