Holmes Report 22 Oct 2013 // 2:40PM GMT
LONDON—Former Grayling CEO Michael Murphy has launched an advisory firm that aims to help marketing service businesses grow.
The launch of the new business, Michael Murphy & Ltd, comes after Murphy ended his 20-year relationship with Huntsworth CEO Lord Chadlington earlier this year. From 2009 to 2012, Murphy served as global CEO of Huntsworth agency Grayling, before spending 12 months as chairman.
Murphy said that the new firm will look to provide a range of specialist services to consultancies and agencies who want to enter new markets, broaden their services, find talent, access capital and expand through acquisition.
"The need for all businesses to become social and the growing complexity of stakeholder engagement is opening up new opportunities for marketing services firms," said Murphy. "There have been over 500 M& A deals globally in the sector in the past 12 months. As this consolidation continues these firms are also being replaced by a wave of new start-ups. They need support to grow and prosper."
"Similarly there are many companies in manufacturing and services which, to survive, need to move from the comfort zone of their home market, sector or existing channels and expand their businesses. The ‘&’ in my company name represents my global network of partners with whom I will work to service their needs."
After selling his Glasgow agency to Chadlington's Shandwick in 1989, Murphy oversaw numerous acquisitions at the latter agency and, later, Huntsworth.