FCB has bought Banks Hoggins O’Shea to add weight to its London
office and help transform it into a credible centrepiece for the
European network it is building.
The deal - signed late on Tuesday afternoon - propels John Banks, the
managing partner of Banks Hoggins, into the chairmanship of the merged
He comes in as part of a ready-made management team which will aim to
wean the London office away from an over-dependence on aligned
international business and make it a more serious competitor for
The merged agency, called Banks Hoggins O’Shea/FCB, will bill a total of
#93 million - according to MMS figures published in Campaign this week -
giving it immediate Top 20 status. It will operate out of the Banks
Hoggins offices in Baker Street.
The major casualty of the merger is FCB’s creative director, John Bacon,
who will leave after passing creative control to Ken Hoggins and Chris
O’Shea. They become joint executive creative directors and deputy
Banks said redundancies will be ’counted on the fingers of one hand’,
and no major client conflicts are expected.
Robert Hamer, FCB’s current London chairman, will switch to a European
role, maintaining his close link with the network’s Kimberly-Clark
business and working closely with Tony Douglas, FCB’s newly appointed
Harry Reid, the FCB international president, declined to say what the
network had paid for its seven-year-old acquisition, in which Banks is
the majority shareholder. But it is understood that the deal is
performance-related and locks in the principal players for at least