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M&C Saatchi

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M&C Saatchi Group
LSE: SAA
IndustryAdvertising
FoundedMay 1995
FounderMaurice Saatchi, Charles Saatchi, Jeremy Sinclair, Bill Muirhead, David Kershaw
HeadquartersLondon
Number of locations
24
Area served
Asia, Australia, Europe, UK, Middle East, Africa and the Americas
Key people
Moray MacLennan, Chief Executive Officer
ProductsConnected Creativity, Brand, Experience and Innovation, Global and Social Issues, Performance Media, Passion Marketing
Revenue$316.13 million for FY2020[1]
Number of employees
2400
Websitewww.mcsaatchi.com

M&C Saatchi Group (LSE: SAA) is an international communications network headquartered in London, formed in May 1995. With more than 2,400 staff, the network spans 23 countries with major hubs in the UK, Europe, US, Middle East & Africa, Asia and Australia.

M&C Saatchi Group claims to be the world's largest independent communications network.[2] 

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

In May 2022, Next Fifteen Communications Group agreed to buy M&C Saatchi Group for $387.2 million.[3]

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 and then 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.[4] In 2020, the Group operated in 24 countries around the world, with regional central hubs in London, New York, Milan, Cape Town, Sydney and Singapore.[5]

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.[6] PricewaterhouseCoopers were appointed as independent advisors to review and confirm findings.[7] In December 2019, the Board announced the total charges would in fact be £11.6M.[7] The company's original auditor KPMG resigned earlier in 2019.[7]

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.[8]

In January 2021, the founders of the agency stepped down and Moray Maclennan became the new CEO.[9] 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.[10] The new mantra 'We Navigate, Create and Lead Meaningful Change' was launched, described by MacLennan as a 'new chapter' for M&C Saatchi.[11] 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.[12]

Structure

Moray MacLennan, Chief Executive Officer, Gareth Davis, Non-Executive Chairman, Mickey Kalifa, Group Finance Director and Vin Murria, Lisa Gordon, Colin Jones, Louise Jackson and Bill Muirhead make up the M&C Saatchi Board as of 2021.[13]

The Group operates in the US, UK, Europe, EMEA, Asia and Australia through six hubs in New York, London, Milan, Cape Town, Singapore and Sydney.

Awards

Agency Awards include:

  • Agency of the Year Campaign Awards, M&C Saatchi Indonesia, 2021.[14]
  • Agency of the Decade, NC Digital Awards, M&C Saatchi Milano, 2021.[15]
  • Most Innovative Company, Australian Financial Review Awards, M&C Saatchi Australia Group, 2017, 2019.[16]
  • Agency of the Decade, Mobile Marketing Effectiveness Awards, M&C Saatchi Performance (formerly known as M&C Saatchi Mobile), 2020.[17]
  • Large Agency of the Year, FM Adfocus Awards, M&C Saatchi Abel, 2019.[18]
  • Agency of the Year, BT Sport Industry Awards, M&C Saatchi Sport & Entertainment, 6 times winners.[19]
  • Leading Consultants, Financial Times, Clear M&C Saatchi, 2017–21.[20]
  • Large Consultancy of the Year, UK Sponsorship Awards, M&C Saatchi Sport & Entertainment, 2019.[19]
  • Most Effective Media Agency The Drum, M&C Saatchi Performance, 2015, 2016, 2017, 2018.[21]
  • Digital Agency of the Year, The DADI Awards, M&C Saatchi Performance, 2016.[21]
  • Consultancy of the Year, PR Week, M&C Saatchi PR, 2017.[22]
  • Agency of the Year, Campaign Asia-Pacific, M&C Saatchi Australia Group, 2015.[23]
  • Creative Talent Management Agency of the Year, Business Excellence Awards from Acquisition International Magazine, M&C Saatchi Merlin, 2014.[24]

Work Awards include:

  • Effie Awards, Golds in: David vs. Goliath, Travel & Tourism and Small Budgets - Services, for 'Looks Like You Need to Let It Out' for Promote Iceland, 2021.[25]
  • PR Week Awards, Winner Global Integration, Looks Like You Need To Let it Out' for Promote Iceland, 2021.[26]
  • Fast Company World Changing Idea, 'The Street Store' for Haven Shelter, 2020.[27]

References

  1. ^ "M&C Saatchi PLC, SAA:LSE profile - FT.com". markets.ft.com.
  2. ^ "About • M&C Saatchi Group". mcsaatchi.com. Retrieved 2021-03-04.
  3. ^ Lepitak, Stephen. "M&C Saatchi's $387M acquisition deal by Next Fifteen Group". Retrieved 2022-05-23.
  4. ^ "The Drum speaks to Jeremy Sinclair of M&C Saatchi to talk about the brutal simplicity of thought". The Drum. Retrieved 2021-03-04.
  5. ^ "Contact • M&C Saatchi Group". mcsaatchi.com. Retrieved 2021-03-04.
  6. ^ "M&C Saatchi crisis continues as company leaders flee". Accountancy Age. 2019-12-11. Retrieved 2021-03-04.
  7. ^ a b c "Saatchi isn't working: ad agency crisis as directors and co-founder quit". the Guardian. 2019-12-10. Retrieved 2021-03-04.
  8. ^ "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-03-04. {{cite web}}: Cite uses generic title (help)
  9. ^ "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-03-05. {{cite web}}: Cite uses generic title (help)
  10. ^ "Capital Markets Day and Trading Update – Company Announcement - FT.com". markets.ft.com. Retrieved 2021-03-04.
  11. ^ "Meaningful Change • M&C Saatchi Group". mcsaatchi.com. Retrieved 2021-03-05.
  12. ^ "M&C SAATCHI PLC ORD 1P (SAA.L) stock historical prices & data – Yahoo Finance". uk.finance.yahoo.com. Retrieved 2021-03-04.
  13. ^ "Board". M&C Saatchi PLC. Retrieved 2021-03-04.
  14. ^ "Agency of the Year 2020 winners: Southeast Asia | Advertising". Campaign Asia. Retrieved 2021-03-04.
  15. ^ "NC Digital Awards".{{cite web}}: CS1 maint: url-status (link)
  16. ^ "M&C Saatchi Tops Australian Financial Review's Most Innovative Companies 2017 List | LBBOnline". www.lbbonline.com. Retrieved 2021-03-04.
  17. ^ "BIG NEWS. WE WON AGENCY OF THE DECADE AT THE EFFECTIVE MOBILE MARKETING AWARDS 2019". M&C Saatchi Performance. 2019-11-15. Retrieved 2021-03-04.
  18. ^ "M&C Saatchi Abel wins three awards at the 2019 FM AdFocus awards". Media Update. Retrieved 2021-03-04.
  19. ^ a b "Leading Sport & Entertainment sponsorship agency". M&C Saatchi Sport & Entertainment. Retrieved 2021-03-04.
  20. ^ "UK's Leading Management Consultants 2021: the ratings". www.ft.com. 2021-02-18. Retrieved 2021-03-04.
  21. ^ a b "M&C Saatchi Mobile". Glints. Retrieved 2021-03-04.
  22. ^ "PRWeek UK Awards Winners 2017: Mid-Sized Consultancy of the Year". www.prweek.com. Retrieved 2021-03-04.
  23. ^ "2015 Agency of the Year winners: Australia and New Zealand | Advertising". Campaign Asia. Retrieved 2021-03-04.
  24. ^ "2014 Business Excellence Awards". M&CSaatchi Merlin. 2016-01-05. Retrieved 2021-03-04.
  25. ^ ""Looks like you need to let it out" campaign awarded 3 EFFIES - Business Iceland". www.businessiceland.is. Retrieved 2021-11-22.
  26. ^ "PRWeek Global Awards Winners 2021 - Global Integration". www.prweek.com. May 20, 2021. Retrieved 2021-11-22.
  27. ^ Clendaniel, Morgan (2020-04-28). "World Changing Ideas Awards 2020: Corporate Social Responsibility Finalists and Honorable Mentions". Fast Company. Retrieved 2021-03-04.
  28. ^ "#rightmyname | M&C Saatchi Abel | Nando's South Africa | D&AD Awards 2019 Pencil Winner | In-Market Campaign | D&AD". www.dandad.org. Retrieved 2021-03-04.
  29. ^ "APG Long Term Thinking Award 2019 | APG". apglondon. Retrieved 2021-03-04.
  30. ^ "Business Insider".{{cite web}}: CS1 maint: url-status (link)
  31. ^ "Optus 'Clever Buoy' wins Cannes Gold Lion". Marketing Magazine. Retrieved 2021-03-04.
  32. ^ "IPA | Public Health England - Be Clear on Cancer". ipa.co.uk. Retrieved 2021-03-04.
  33. ^ A League of Their Own - IMDb, retrieved 2021-03-04
  34. ^ "Olympics". Archived from the original on 2021-12-13.
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