JWT's Maedel to identify acquisition targets

<P>JWT international president Michael Maedel is relocating to Asia, with Toby Hoare, the executive chairman of JWT London, to replace him as the network's Europe chief, effective 1 January. </P> <P>Maedel, who will be based in Singapore from mid-October, had earlier denied he would move permanently to the region. "It is a hugely exaggerated rumour," he said in a late-July interview.</P> <P>He now said the relocation was necessary given the time he was spending in the region and would allow him to focus on acquisitions in China, India, Vietnam and Indonesia, as well as build the network's presence in Thailand, Japan and Korea. </P> <P>"Spending up to 13 hours on a place twice a week is not the best use of your time," he said. "Asia is the fastest-growing region in JWT and a huge amount of growth is in non-traditional areas. I will be looking at acquisitions and start-ups, working with management to get it done."</P> <P>He denied there would be  management changes in Asia, or a change in his international role following the move.</P>