Today brings news that MWW has finalized its acquisition of London-based Parys Communications, which will now become part of the larger MWW organization. While the move expands the firm’s client roster to include names like News UK (part of News Corp.) and BBC Worldwide and adds all of Parys’ employees to its team, we’re most interested in its strategic implications.
As Edelman‘s David Armano noted in an August AdAge op-ed, the supernova merger of Omnicom and Publicis led to “swelling…support for independent shops” over the far larger holding companies that would (supposedly) lack the “agility” and entrepreneurial spirit of feistier competitors. Armano wrote that his original employer “had stopped innovating and…winning like we used to” after being bought by Omnicom and that he had a similar experience at Digitas.
His article described the holding company experience as a classic tale of a small fish in a big pond but ultimately concluded that the quality of work and employee satisfaction at any agency depends more on the talent within it than any other factor.
MWW is better qualified than some to comment on this trend, and today President/CEO Michael W. Kempner gave us his quick take.