With the founder of 28-year-old Draft Worldwide running the new agency, there is no job for Steve Blamer. Blamer only took up office as FCB CEO in June last year following a six-month wait, having been kept to his previous contract by Grey Global Group. He will be leaving the company after a transitional period.
The merger of traditional ad agency FCB, which is one of the world's oldest shop, and direct marketing agency Draft ends months of speculation.
FCB's creative director Jonathan Harries has been named worldwide chief creative officer for the new company.
The move is expected to create a new offering, which will combine a full-range of creative, integrated, marketing, promotions, as well as media capabilities in direct TV, interactive and communications.
In the UK it will mean the coming together of the 60-strong FCB London with the larger Draft, which employs 82 people.
Integration teams are being formed with equal representation from both companies to develop a plan for the future.
The integration period will be completed in around 90 days, at which time the agency's organisational and management structure will be announced.
Michael Roth, Interpublic's chairman and CEO, said: "We're confident that Howard and the management team he assembled can create a world-class organisation.
"During his time at FCB, Steve has streamlined the operation and put the company on firm ground. Having helped turbo-charge this process by means of a combination with Draft, he has decided to move on to other challenges."
Draft said: "Bringing together FCB and Draft positions us perfectly to address evolving client demand. Unlike other models, in which one discipline dominates, our approach has the revolutionary potential of being grounded in creativity, fuelled by insights into consumer behaviour."
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