TORONTO: Canadian-headquartered agency holding company MDC Partners, has merged its ailing MFP shop (formerly Margeotes Fertitta & Partners) into sibling network Kirshenbaum Bond & Partners. According to insiders, the melding amounts to little more than the dissolution of MFP.
However, in an unusual take on a familiar scenario, MFP's chief creative officer Neil Powell is setting-up his own shop with funding from the holding company.
Word from within the MFP bunker is that only a few employees - none at senior level - and a handful of key clients will move over to Kirshenbaum Bond.
The remaining clientele will join Powell and the team he chooses to export to his yet-to-be-named startup.
Data sourced from AdAge.com; additional content by WARC staff