Maxxcom, which was quietly put up for sale last year, has just finished a cost-cutting programme but it seems to have come too late to save Morden, who was responsible for taking the Canadian group public in 1999 and embarking on an acquisition spree.
As well as Interfocus and Grange Advertising in the UK, Maxxcom owns US Margeotes|Fertitta + Partners and high-profile US creative shop Crispin Porter + Bogusky.
Reiter joins the company from Canadian financial services firm Tyco Capital Canada, a company with over 拢2.2bn in assets under management.
Maxxcom put a for sale sign up late last summer following disappointing results. News of the sale came on the back of a shopping spree, which saw it net two significant buys in less than 12 months.
In January 2001, it bought Crispin Porter + Bogusky and, in September last year, it ventured out of the US for the first time, taking a 60% stake in Interfocus. This stake effectively financed Interfocus's purchase of then troubled Osprey Communications. Having sold to Maxxcom, Interfocus CEO and chairman Matthew Hooper might now have to buy himself back out.
Maxxcom also owns US direct marketing firm Chinnici Direct and PR agency Bratskeir & Company.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .