Maurice Lévy speaks of peace hopes as Publicis ventures into Palestine
By Daniel Farey-Jones, campaignlive.co.uk, Monday, 18 June 2012 04:25PM
Publicis Groupe is claiming to be the first listed international holding company to enter the Palestinian market, with chief executive Maurice Lévy visiting the region to sign an agency deal today (18 June).
At a special ceremony, Lévy signed an agreement for Publicis Groupe to acquire 20% of Zoom Advertising, based in Ramallah in the West Bank, and the option to increase its stake in future.
Zoom, now Publicis Zoom, has 23 staff and clients include the Bank of Palestine, Coca-Cola, Peugeot, the Palestinian Exchange and the new Palestinian-planned city of Rawabi.
The investment carries political risk against a background of intermittent hostilities between Palestinians and Israel, but Lévy expressed hope the move would play its part in contributing to "durable peace".
Earlier in the day, his French-headquartered group announced it had boosted its presence in Israel with the acquisition of BBR.
The acquisition of the 220-strong network, which has clients including Procter & Gamble, takes the group to more than 400 employees in the country.
Speaking of the Palestinian investment, Lévy said: "Today's transaction is important on several levels. One key element, of course, is Publicis' desire to serve our clients wherever they work. But the impact of this operation extends much further than that.
"It comes immediately after our announcement of the acquisition of BBR in Israel – symbolically, this speaks to every man's dream of seeing peace in the Middle East and between the Palestinian and Israeli peoples.
"Moreover, it is also a call to French and international companies to set up in the region and to contribute to creating the economic development, without which there can be no durable peace."
Also present at the ceremony in Palestine were Jean-Yves Naouri, chief operating officer at Publicis Groupe and executive chairman of Publicis Worldwide, and Loris Nold, a member of the executive committee of Publicis Worldwide.
Follow Daniel Farey-Jones on Twitter @danfareyjones
This article was first published on campaignlive.co.uk
- Sports! Cross Platform Creative Solutions Manager Ultimate Asset £25000 - £35000 per annum + Excellent Commission Potential & Bens, London
- Agency Account Director- Programmatic Video Platform Ultimate Asset £45000 - £60000 per annum + commission & benefits, London
- Account Manager EMEA - Ad-tech Company Ultimate Asset £35000 - £50000 per annum + bonus & benefits , London
- Senior PR Account MAnager - Digital AF Selection £30000 - £35000 per annum, Manchester
- Senior Account Director Pitch Consultants £48000 - £55000 per annum + benefits, West Midlands
- Black horse returns in new Lloyds Bank campaign
- The man who made Grey matter
- Watch: Every Grand Prix winner from Cannes Lions 2015
- 'You're thirsty. We've got sales targets', says Oasis in summer campaign launch
- Heineken selects Publicis Worldwide to be lead global creative agency
- Programmatic adspend nears £1bn and doubles for mobile