LONDON: M&C Saatchi Europe chairman Nick Hurrell and Neil Dawson, chairman of TBWA London, have quit their respective networks to set up their own agency.

Branded Hurrell and Dawson, the fledgling is expected to open for business next month and is financed entirely from the founding partners' own resources.

Comments Hurrell: "We are investing everything we've got. We know there are people who would be prepared to lend to us, but we plan to hold our breath until we come up for air."

The new agency has no client list as yet, and insists it has not talked to other agency executives or creative directors about joining it.

Data sourced from Brand Republic (UK); additional content by WARC staff