M&C takes 60pc stake in Thai firm in regional push

M&C Saatchi has taken a 60 per cent stake in Spaulding & Co in Bangkok. The move marks the opening of the agency's first Asian office since its float on the London Stock Exchange.

The office will be headed up by existing directors Ron Spaulding and Amornpimol Thanakitamnuay, with former Lowe Bangkok creative Veradis Vinyaratn as executive creative director. "We wanted to find local people to run the agency and give the local partners holding equity," Maurice Saatchi, the agency's executive director, told Media on a visit to Hong Kong. "This is the first of our post-float office openings. We are also looking at South Korea and India (for expansion). In China, we are still looking for a good local partner to work with us in Beijing." The agency has already signed up Siam Cement Company, Natural Park Development, Tisco, Finansa Insurance and Lyrecho office supplies as clients. M&C Saatchi has offices in London, New York, Hong Kong, Shanghai, Singapore, Taipei, Kuala Lumpur and Tokyo, as well as Australia and New Zealand. The agency's pre-tax profits in its first results since its float rose by almost nine per cent for the first half of the year to £4 million (US$7.2 million), with Asia and Australia putting in the best performance.

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