GroupM has restructured its portfolio.
Firstly, Essence, a digital-first agency that GroupM acquired in November 2015, will be expanded; traditional media capabilities and a larger geographic footprint will be added to the agency's existing media and creative credentials. In time, Essence will also lead several key GroupM client relationships.
GroupM's portfolio will now comprise three global media agency networks - Mindshare, MediaCom, and the new company.
GroupM also plans to make new investments across its agencies and [m]PLATFORM data and technology capabilities.
GroupM clarifies in a press release, that Maxus will continue to operate as an agency brand in India.
"We're committed to improving our service to clients. These moves will give us greater focus, help us innovate, and improve our speed of delivery," says Kelly Clark, Global CEO, GroupM.
Recall that Clark became global CEO of GroupM last October. Recently, Lindsay Pattison was appointed as GroupM's chief transformation officer to lead a range of transformation initiatives, the press note reminds us.
"The leadership team at Essence is excited about the opportunities this creates for our clients and our people," says Christian Juhl, CEO, Essence, "Our mission is to make advertising more valuable to the world; with this infusion of talent, capabilities and markets, we can do this now on a bigger stage."
"Maxus and MEC share common values and ambitions. Both networks have a strong local market presence and entrepreneurial drive. Together, we believe we can create an exciting new media, content and technology agency which we look forward to introducing soon," says Castree.
"We've clearly signalled our ambition to transform, and we mean business," says Pattison, "This allows us to more meaningfully invest in each agency's future - retaining and attracting the best talent with inspiring and rewarding workplaces, creating differentiated cultures and approaches and sharing in a focus on helping clients win."
GroupM, a global media investment management company, is parent to WPP-owned media agencies Mindshare, MEC, MediaCom, Maxus, Essence and Motivator in India as well as programmatic digital media platform Xaxis. Together, GroupM and Kantar (WPP's data investment management group) account for over half of WPP's group revenues of more than $20 billion, as per a press note issued by GroupM.