Does anyone know what’s going on at M+C Saatchi? Even M+C Saatchi…
The Saatchi name still counts for a lot in advertising, despite the fact that neither of the famous brothers is currently engaged. Maurice (Lord) Saatchi stepped down from M&C Saatchi, the agency he founded with brother Charles in 1995, a couple of years ago following an accounting misfire. One of those explosions that has marked the Saatchi pathway through adland over the years.
Publicis-owned Saatchi & Saatchi is a rather bigger entity, accounting for a fair amount of the French company’s creative business. Quoted M&C (or M+C as it recently restyled itself) is not insignificant, valued at £150m with offices dotted over the globe although one suspects that much of its fame still stems from the departed brothers. Charles quit after a couple of years to spend more time with his modern art collection.
Since then, after a period of relative stability with Moray MacLennan running the show and David Kershaw, Bill Muirhead and Jeremy Sinclair (founders alongside Maurice – all below) lurking on the top floor of an impressive block overlooking London’s Golden Square, it’s been all change.
To an outsider it’s been almost impossible to work out who does what. Now Gemma Knox. UK group MD and a global client lead (whatever that is) is on her way after two years to be replaced on seemingly a temporary basis by Holly Maguire, most recently of Design Bridge – not the likeliest of CVs. All this when the future of ultimate boss, global CEO Zaid Al-Qassab, who joined from Channel 4, is reportedly being reviewed following an earnings dip.
Jo Bacon, UK CEO, is also departing with Marcus Peffers, who does seem to have staying power, moving up to chair some UK businesses. Peffers says: “We are thrilled that Holly will be joining us in the UK as we continue to deliver Cultural Power (the new M+C mantra) for our existing and new clients following a period of growth. We’d like to thank Gemma for her contribution to M&C Saatchi and wish her every success for her next chapter.”
Public-facing bullishness has never been in short supply at M+C.
The agency has also been bedevilled by abortive takeover bids of one sort or another, including one from former deputy chair Vin Murria, a tech investor – £254m which might look attractive to shareholders now.
But life at M+C has never been straightforward, as a raft of fairly recently appointed executives, now on their way, could doubtless testify.
