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Posts Tagged ‘Moray MacLennan’

M&C Saatchi Buys Minority Stake in SS&K

Good-HandshakeM&C Saatchi, after two failed attempts to set up shop in New York City, is purchasing a one-third stake in SS&K, to serve as M&C Saatchi’s New York outpost, The New York Times reports.

Both agencies are expected to make the announcement today. The financial terms of the deal remain undisclosed, but M&C Saatchi’s stake is estimated at 33 percent, with the remaining majority share still in the hands of co-founders and partners Rob Shepardson, Lenny Stern and Mark Kaminsky. M&C Saatchi’s New York office, meanwhile, is expected to close by the end of year.

SS&K opened back in 1993 as Shepardson, Stern & Kaminsky, and continues to grow, recently adding HBO, Starbucks, E*Trade, Jackson Hewitt, Wells Fargo, Fresh Direct and The New Yorker to its client roster. The agency will become M&C Saatchi’s New York presence but will continue to keep its own name, and through its connection to M&C Saatchi will gain access to that agency’s global network, which includes offices in London, Tokyo, Los Angeles, Sydney, Paris and Madrid.

“With hindsight, I don’t think we ever invested, if we’re honest with ourselves, the time or money to create a flagship office in Manhattan, the toughest of all markets,” Moray MacLennan, worldwide chief executive of M&C Saatchi, told The New York Times. “It’s a brutal old town you have.”

MacLennan cited the departure in July of Jeff Brooks, chief executive of M&C Saatchi New York, for MDC’s Assembly as “…the catalyst for our change of direction.” He also said he hopes to “move across” at least some people and clients to SS&K, adding, “we’re already working on an international pitch with SS&K.”

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M&C Saatchi Sets Up Shop in Stockholm

The photogenic folks you see above comprise the leadership team at M&C Saatchi’s latest office, which has opened its doors in Stockholm. With the addition of its Swedish branch, the agency network now counts 27 offices around the world. Among the folks you see above is Martin Cedergren (denim shirt), a Euro agency vet who’s joining M&C Stockholm as executive creative director/partner and held similar positions at the likes of AKQA and 180 Amsterdam as well as Akestam Holst. The rest of the partners includes fellow ECD/partner Patrick Dry (glasses) former Lowe Black strategist Klara Eide (center), Lowe Brindfors alum and current M&C Stockholm CEO/partner, Bjarta Eide (white shirt, far right).

According to a statement from M&C Saatchi CEO Moray MacLennan, the new full-service office will further strengthen its global network. “This strategic move in Scandinavia further strengthens our global network,” he echoes. “The region is home to some of the world’s most innovative brands and talent. We have a uniquely experienced team of founding partners–they combine an energetic, entrepreneurial spirit with a deep level of insight and business acumen across tech and traditional methods. Their understanding of the Scandinavian market is unsurpassed and the team is a great addition to the M&C Saatchi network.”

We’re awaiting word on staff count and specific clients, though we’re not sure how the Stockholm branch can top Tom Brady‘s gesture to a plebeian in his latest Ugg ad brought to us by M&C Saatchi L.A. Update:Well, M&C Saatchi isn’t revealing too much at the moment–apparently, everything’s still “highly under wraps”–but the agency’s Stockholm office is “currently recruiting and we will be announcing the first clients in the near future.”