His last day with the company has not been decided.
Bhasin joined the agency in 2003 as Universal McCann Malaysia’s managing director from his role as director and marketing manager of Mindshare Singapore.
Bhasin said in a release: “It is time to move on to pursue goals that I have been considering for some time now.”
He began his advertising career in 1995, working at publishing group Indian Express. He then moved on to J Walter Thompson Media, which later became Mindshare Delhi.
Tsang, meanwhile has been in the industry for 20 years and is charged with managing Universal McCann in Singapore as well as leading Mediabrands in Singapore as CEO, where he will additionally oversee Initiative.
According to president of Mediabrands Asia-Pacific Jeff Cressall, the agency will soon appoint a leader of Initiative Singapore to replace Tsang.