Lowe & Partners Worldwide is to relocate its global headquarters to London, parent Interpublic Group has decided. The move has been pushed through on the back of a McKinsey report, despite alleged "vehement opposition" from the agency's worldwide chief executive Jerry Judge
Relocation is likely to take place before the year end and casts a question mark over Judge's future with the ailing network. Lowe has been hit in recent months by the defection of major multinational clients such as banking giant HSBC and Braun.
The McKinsey recommendation recognizes the fact that most of the shop's remaining clientele are either UK or European-based. London is also the purlieu for many of Lowe's most senior executives, including chairman and worldwide chief creative office Adrian Holmes.
It was announced earlier this year that IPG would merge Lowe with Draft, its successful marketing communications network, branding the union Lowe+Draft [WAMN: 30-May-04]. It now seems the shotgun wedding has been annulled.
Data sourced from: BrandRepublic (UK); additional content by WARC staff