Former Ogilvy Group chairman and chief executive Paul Simons has finalised the launch of marketing services group Cagney, which will be floated on the Alternative Investment Market next month.
The holding company – an anagram of “agency” – consists of advertising shop Walsh Trott Chick Smith, promotional marketing specialist Cubo, public relations business The Media Foundry and brand consultancy Brand Aid, which will include Paul Simons & Partners, formerly Passion & Partners, which was set up by Simons in 2002.
Cagney, led by Simons as chief executive, is preparing to float in a bid to raise more than &£3m to cover initial investments. Key figures at each agency will become shareholders in the group, and will pitch together or recommend each other for new business.
Simons was a founding partner of Simons Palmer Clemmow Johnson, which was sold to Omnicom in 1997. He went on to lead the agency’s mergers with TBWA, and then GGT/BDDP. The deal reunites Simons and Dave Trott, who worked together at GGT.
Simons says: “The UK market is going through a period of transformation. There is a second wave of groupings driven by the vacant space left behind by the global groups, which are focusing on emerging markets such as China.
“The second wave is gathering momentum. Over the next few years it will turn into a tidal wave, and our goal is to be an influential player in this movement,” he adds.