Bacon out as FCB acquires Banks

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.

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

agency.



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

domestic accounts.



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

chairmen.



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

European chairman.



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

three years.



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