The news came less than a month after the agency’s regional CEO Chris Jaques (pictured) called time on M&C Saatchi’s Bangkok operation (Media, 12 May) as part of his strategy to focus on high-margin, high-growth businesses.
He told Media: Singapore is a low-margin, low-growth and highly competitive market. Yes, large regional clients are located here, but for us to compete with bigger networks for regional business would require massive investment.
The network will not, Jaques insisted, be retreating from the city-state altogether.
He said: We are more committed to Singapore than we have ever been. But we have to ensure that we are committed to disciplines that Singaporean companies want.
We are pursuing partnerships in direct, data, digital and mobile, and Singapore will form the network’s hub for these disciplines, as it will for our strategic consulting business.
Alternative roles for some of the agency’s 18 staff are under discussion. Carolyn Kan, the agency’s MD, will be taking time away from the industry to consider her next move. She has spent nine years with the company.
The agency winds down in September.
M&C Saatchi calls time in Singapore
SINGAPORE - M&C Saatchi is shutting up shop in Singapore after 13 years in operation.