GroupM’s significant portfolio restructure that will merge two of its agencies – MEC and Maxus into a yet to be named entity will take some time before its takes shape in the Middle East & North Africa (MENA) region.
“We are just beginning a transition project that will take many months to complete. For now, its business as usual for BPG Maxus in MENA,” stated Filip Jabbour, CEO GroupM MENA.
As is known, in the region, Maxus operates as part of the BPG Group.
“BPG Maxus does have a unique ownership structure in MENA, the partnership with BPG, and for this reason we anticipate the transition may take some additional time in MENA,” Mr Jabbour added.
Globally, GroupM says that it is committing to the expansion of Essence, its digital-first agency, by adding traditional media capabilities and a larger geographic footprint to the agency’s existing media and creative credentials. In time, Essence will also lead several key GroupM client relationships as part of this restructure.
GroupM is merging the global operations and teams of its agencies MEC and Maxus into a new billion dollar revenue, media, content and technology agency under the leadership of MEC’s CEO Tim Castree.
The media holding company’s portfolio will now comprise three global media agency networks — Mindshare, MediaCom, and the new company – each with more than one billion dollars in annual revenues, plus the digital-first agency, Essence. GroupM also plans new investments across all of its agencies and its [m]PLATFORM data and technology capabilities.