KARACHI: J. Walter Thompson has bought out Asiatic, its affiliate
partner in Pakistan. The move makes the agency, which will be known as
J. Walter Thompson Asiatic, the first in Pakistan to be wholly owned by
a major multinational network.
Asiatic is the third largest agency in Pakistan, with billings of
USdollars 9.8 million for 2000. Before the buy-out, the company had been
a JWT affiliate for 12 years.
JWT Asia-Pacific chief operating officer Kevin Ramsey said that the bulk
of the local agency's work would initially come from the network's
international clients, with servicing the Unilever business in Pakistan
a particular priority.
J. Walter Thompson Asiatic's initial client list will number 70
companies.
In addition to Unilever, the agency's clients include Shell, Novartis
Hyundai, ABN AMRO, Toshiba and LG Electronics.
Ramsey added that the move had been prompted by client demand, and by
the agency network's faith in the potential of the Pakistani market.
"We're moving into places that are important to our clients," he
commented.
"We see our network as the key strategic advantage. We believe in
Pakistan as a big growth opportunity, and we also recognise that if we
are going to establish a truly international agency with a truly
international product there, we should be controlling that
ourselves."
The agency will continue to be run by incumbent chief executive/managing
director Karim Rammal, son of Anwar Rammal, who founded the company in
1963. He will report to JWT's Mumbai-based Central Asia boss Mike
Khanna.
JWT Asiatic currently employs 179 people and also has an office in
Lahore, which it opened in 1996. The network is not planning to make any
significant personnel changes.
JWT International group president Miles Colebrook said: "We will make
significant investments in manpower traning which will help JWT Asiatic
to further upgrade its creative standards and approach to planning
advertising.
"The economy of Pakistan has tremendous potential and the prospect of
more foreign investment is bright, which will ultimately generate more
business revenue and more advertising opportunity."
