Omnicom creates European body to drive business
LONDON - Omnicom Group is hoping to take its European business forward with the formation of a new venture, Omnicom Europe, that will be led by Abbott Mead Vickers BBDO founding partner Peter Mead.
Mead will head Omnicom Europe, based in London, and look at how to optimise business development, logistics support, property management and procurement.
The board of the new organisation will include senior executives from Omnicom's advertising networks, including TBWA\, BBDO Worldwide and DDB Worldwide. It will also include executives from the media networks PHD and OMD, as well as Omnicom chief financial officer Randall Weisenburger.
Omnicom is hoping to replicate the success of Diversified Agency Services in the US, which tries to get Omnicom clients to buy more than one service from the company. As well as its advertising and media interests, Omnicom owns several public relations networks, including Fleishman-Hillard, along with direct marketing agencies including Rapp Collins Worldwide and Claydon Heeley Jones Mason, and various branding and design shops.
John Wren, chief executive of Omnicom, said: "Our new structure will allow us to focus even more effectively on our European operations. Peter Mead, as vice-chairman of Omnicom Group, is the natural leader of this initiative. We share a common philosophy on deepening our relationships with our clients and providing our employees with the tools and programmes they need to be most effective."
At the same time, Omnicom said it had bought Agency.com, the interactive agency whose clients include HP, British Airways and T-Mobile.
Agency.com was owned by Seneca, the company to which Omnicom transferred all its digital marketing agencies in 2001, including a 35% share in Agency.com. Last year, Omnicom bought another of Seneca's holdings, Organic, in a $106m (£65.2m) deal, but Agency.com chief executive Chan Suh has said there are no plans at the moment for Agency.com to merge with Organic.
Unveiling its second-quarter results yesterday, Omnicom saw a 21% rise in foreign income, but domestic sales still make up more than half of its revenue.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- PPC Executive - Leading Digital Marketing Agency Ultimate Asset £23000 - £28000 per annum + Amazing Benefits, London
- Account Director - FMCG & Retail to £55k Network Career Consultants £48000 - £55000 per annum, City of London