SINGAPORE: Grey Worldwide plans to bolster its regional office in
Singapore now that local sister agency Grey Advertising closed down,
resulting in 15 job losses.
Edwin Tan, group managing director and majority shareholder in Grey
Advertising, closed the agency because it failed to generate any
significant new business in recent years.
"It was hit hard by the recession in 1997 and never properly recovered,"
said Eric Rosenkranz, Grey Asia Pacific president.
It was also unable to count on new business via international alignments
because these accounts - Oracle, Procter & Gamble, Holiday Inn and
others - were housed in the Singapore regional office, Grey Worldwide
Southeast Asia, which has an account service and administrative staff of
12.
Accounts handled by the local shop, including Vitagen and Overseas Union
Bank, will move to Grey Worldwide.
