…as JWT scoops $47m DeBeers

Diamond company DeBeers has pulled its $47m (31m) US account out of NW Ayer & Partners after 57 years and consolidated it into J Walter Thompson.

JWT already handles the account in the rest of the world.

A statement from DeBeers points to advantages in having the services of a single multi-national agency with global resources on the account.

The move is a significant blow to NW Ayer which has been embroiled in a management dispute in recent months. It is still reeling from the sudden departure of its chairman and chief executive Steve Dworin in June.

Dworin is understood to have left after becoming frustrated with Richard Humphreys, president of NW Ayer’s holding company Adcom, and WY Choi who owns 99 per cent of Adcom.

Dworin favoured a plan for key NW Ayer executives to receive a 25 per cent equity stake in the agency, but this failed to come to fruition.

There are also increasingly strong rumours of a split between Humphreys and Choi. Reports suggest Humphreys may make a bid for NW Ayer.

NW Ayer ran a long-standing campaign for the company with the strapline, “A Diamond is Forever”. The line is likely to be retained as its worldwide theme.

DeBeers spent $47m on advertising in the US last year but Ayer claims spend for next year is expected to be $35m (23m).

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here