M&C Saatchi Explained

M&C Saatchi Group
Foundation:May 1995
Location City:London
Location:London
Locations:21
Founder:Maurice Saatchi, Charles Saatchi, Jeremy Sinclair, Bill Muirhead, David Kershaw
Key People:Zaid Al-Qassab (Global CEO), Zillah Byng-Thorne (Executive Chair)
Area Served:Asia, Australia, Europe, UK, Middle East, Africa and the Americas
Industry:Advertising
Revenue:£252.8m for FY2023
Num Employees:2700

M&C Saatchi Group is an international communications company, formed in May 1995 as an advertising agency. With more than 2,400 staff, the group has its headquarters in London, and offices in several other countries.

M&C Saatchi Group claims to be the world's largest independent communications network.[1]  

The group is listed on the AIM Board of the London Stock Exchange.

In May 2022, Next Fifteen Communications Group tried to buy M&C Saatchi Group for $387.2 million.[2]

History

M&C Saatchi Group started as an advertising agency in 1995, founded by Maurice & Charles Saatchi, Jeremy Sinclair, Bill Muirhead and David Kershaw, in a split from Saatchi & Saatchi. A number of Saatchi and Saatchi's London management and creative staff also joined. Some clients soon followed, including Gallaher Group, Mirror Newspapers, the retailer Dixons and after a competitive pitch, British Airways and its part subsidiary Qantas, as well as the Conservative Party, for whom they made the infamous New Labour, New Danger adverts. By early 1996, the network consisted of offices in London, Singapore, Hong Kong, Sydney, New York and Auckland.[3] In 2020, the group stated that it operated in 24 countries, with regional offices in London, New York, Milan, Cape Town, Sydney and Singapore.[4]

In 2019, some accounting errors from previous financial years were discovered. Problems included the early recognition of revenue for projects not fully completed and the capitalising of assets which ought to have been expensed. The issues were brought to the attention of the PLC directors and an announcement was made that charges of £6.4M would be booked in the 2019 year relating to either 2018 or 2019.[5] PricewaterhouseCoopers were appointed as independent advisors to review and confirm findings.[6] In December 2019, the Board announced the total charges would in fact be £11.6M.[6] The company's original auditor KPMG resigned earlier in 2019.[6]

It was reported that the agency's client, the Financial Conduct Authority – Britain's financial watchdog - issued a formal request for information to examine M&C's disclosure of the accounting problems which prompted the share price fall.[7]

In January 2021, the founders of the agency stepped down and Moray MacLennan became the new CEO.[8] In January 2021, M&C Saatchi Group hosted a virtual capital markets event for institutional investors and analysts, where they announced a new strategy and operating model.[9] The new mantra 'We Navigate, Create and Lead Meaningful Change' was launched, described by MacLennan as a 'new chapter' for M&C Saatchi.[10] Following this launch and announcement of positive financial results, the M&C Saatchi plc share price rallied, jumping from 90p to 150p in early March 2021.[11]

On the 13th May 2024, Zaid Al-Qassab, previous CMO of Channel 4, joined as Global CEO.

Board

Zillah Byng-Thorne, Executive Chairman, Zaid Al-Qassab, Global CEO, Simon Fuller, Chief Financial Officer, Heather Rabbatts, Non-Executive Chair, Colin Jones, Non-Executive Director, Louise Jackson, Non-Executive Director and Chris Sweetland, Non-Executive Director make up the M&C Saatchi Board as of 2024.[12]

In July 2023, it was announced that Moray MacLennan would be stepping down as CEO.[13] On the 13th May 2024, Zaid Al-Qassab, previous CMO of Channel 4, joined as Global CEO, following which Zillah Byng-Thorne, acting Executive Chair, returned to her role as Non-Executive Chair of the Company.

Awards

Agency Awards include:

Work Awards include:

External links

Notes and References

  1. Web site: About • M&C Saatchi Group. 2021-03-04. mcsaatchi.com.
  2. Web site: Lepitak . Stephen . M&C Saatchi's $387M acquisition deal by Next Fifteen Group . 20 May 2022 . 2022-05-23 . en-US.
  3. Web site: The Drum speaks to Jeremy Sinclair of M&C Saatchi to talk about the brutal simplicity of thought. 2021-03-04. The Drum. en.
  4. Web site: Contact • M&C Saatchi Group. 2021-03-04. mcsaatchi.com.
  5. Web site: 2019-12-11. M&C Saatchi crisis continues as company leaders flee. 2021-03-04. Accountancy Age. en-GB.
  6. Web site: 2019-12-10. Saatchi isn't working: ad agency crisis as directors and co-founder quit. 2021-03-04. the Guardian. en.
  7. Web site: Barker . Alex . Binham . Caroline . 2019-12-12 . M&C Saatchi draws FCA scrutiny over accounting disclosure . subscription . 2021-03-04 . Financial Times.
  8. Web site: Barker . Alex . 2020-12-18 . M&C Saatchi founders to depart ad group . subscription . 2021-03-05 . Financial Times.
  9. Web site: Capital Markets Day and Trading Update – Company Announcement - FT.com. 2021-03-04. markets.ft.com.
  10. Web site: Meaningful Change • M&C Saatchi Group. 2021-03-05. mcsaatchi.com.
  11. Web site: M&C SAATCHI PLC ORD 1P (SAA.L) stock historical prices & data – Yahoo Finance. 2021-03-04. uk.finance.yahoo.com. en-GB.
  12. Web site: Board . 2024-07-17 . M&C Saatchi PLC.
  13. Web site: English . Simon . 2023-07-24 . M&C Saatchi in hunt for new CEO as Moray MacLennan retires . 2023-07-25 . Evening Standard . en.
  14. Web site: Start-up Agency of the Year 2022: Fluency M&C Saatchi . 2023-09-05 . www.campaignlive.co.uk . en.
  15. Web site: The winning formula: eight factors that UKSA judges look for when selecting finalists for the TV Sponsorship category Sponsorship Awards . 2023-09-05 . www.sponsorship-awards.co.uk.
  16. Web site: Most innovative companies advertising 2023 .
  17. Web site: 2023 AOTY Winners . 2023-09-05 . Agency Of The Year Malaysia 2023 . en-US.
  18. Web site: Agency of the Year 2020 winners: Southeast Asia Advertising. 2021-03-04. Campaign Asia.
  19. Web site: NC Digital Awards. 28 May 2024 .
  20. Web site: M&C Saatchi Tops Australian Financial Review's Most Innovative Companies 2017 List LBBOnline. 2021-03-04. www.lbbonline.com. en.
  21. Web site: 2019-11-15. BIG NEWS. WE WON AGENCY OF THE DECADE AT THE EFFECTIVE MOBILE MARKETING AWARDS 2019. 2021-03-04. M&C Saatchi Performance. en-GB.
  22. Web site: M&C Saatchi Abel wins three awards at the 2019 FM AdFocus awards. 2021-03-04. Media Update. 2 December 2019 . en.
  23. Web site: Leading Sport & Entertainment sponsorship agency. 2021-03-04. M&C Saatchi Sport & Entertainment. en-GB.
  24. Web site: 2021-02-18. UK's Leading Management Consultants 2021: the ratings. https://ghostarchive.org/archive/pPk6I . 2022-12-11 . subscription. 2021-03-04. www.ft.com. en-GB.
  25. Web site: M&C Saatchi Mobile. 2021-03-04. Glints. en.
  26. Web site: PRWeek UK Awards Winners 2017: Mid-Sized Consultancy of the Year. 2021-03-04. www.prweek.com.
  27. Web site: 2015 Agency of the Year winners: Australia and New Zealand Advertising. 2021-03-04. Campaign Asia.
  28. Web site: 2016-01-05. 2014 Business Excellence Awards. 2021-03-04. M&CSaatchi Merlin. en-GB.
  29. Web site: 2023 SABRE EMEA Winners . 2023-09-05 . PRovoke Media . en.
  30. Web site: Dubai Lynx 2023 Grand Prix Winners LBBOnline . 2023-09-05 . www.lbbonline.com . en.
  31. Web site: says . Yay . 2023-03-29 . M&C Saatchi's 'G'day' Wins Best Animation Short at the Los Angeles International Film Festival . 2023-09-05 . Campaign Brief . en-AU.
  32. Web site: The winning formula: eight factors that UKSA judges look for when selecting finalists for the TV Sponsorship category Sponsorship Awards . 2023-09-05 . www.sponsorship-awards.co.uk.
  33. Web site: Business Iceland OutHorse Your Email . 2023-09-05 . www.oneclub.org . en.
  34. Web site: US Effies award results .
  35. Web site: The ABBY Awards: Leo Burnett India wins big with a total of 42 awards; awards for special effects, design and art were also handed over - . 2023-09-05 . www.animationxpress.com.
  36. Web site: The ANDY's .
  37. Web site: "Looks like you need to let it out" campaign awarded 3 EFFIES - Business Iceland. 2021-11-22. www.businessiceland.is.
  38. Web site: May 20, 2021. PRWeek Global Awards Winners 2021 - Global Integration. 2021-11-22. www.prweek.com. en.
  39. Web site: Clendaniel. Morgan. 2020-04-28. World Changing Ideas Awards 2020: Corporate Social Responsibility Finalists and Honorable Mentions. 2021-03-04. Fast Company. en-US.
  40. Web site:
    1. rightmyname M&C Saatchi Abel Nando's South Africa D&AD Awards 2019 Pencil Winner In-Market Campaign D&AD
    . 2021-03-04. www.dandad.org.
  41. Web site: APG Long Term Thinking Award 2019 APG. 2021-03-04. apglondon. en.
  42. Web site: Business Insider.
  43. Web site: Optus 'Clever Buoy' wins Cannes Gold Lion. 2021-03-04. Marketing Magazine. en-US.
  44. Web site: IPA Public Health England - Be Clear on Cancer. 2021-03-04. ipa.co.uk.
  45. Web site: Olympics. . 27 October 2014 . https://ghostarchive.org/varchive/youtube/20211213/3g1HahUCSKU . 2021-12-13. live.

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