Dubai: The global ad giant Ogilvy & Mather has picked up a majority stake at its Middle East affiliate, Memac Ogilvy. The two had an association going back to 1986 and O&M had picked up a minority stake just over 18 years ago.
“The Middle East and North Africa are areas of unique opportunity in the marketing communications business; this is the right time for us to recognise that, and jointly and aggressively execute our plans to build the network here,” said Miles Young, chairman and CEO of Ogilvy & Mather. Eddie Moutran, who founded Memac in 1984, will now become a member of the Ogilvy & Mather Worldwide Board. “When I started the business in 1984 we had one office, one client and four staff,” said Moutran. “Three decades later we are the leading integrated marketing communications network in the Middle East and North Africa.”
