NEW YORK (AdAge.com) -- After two years as global president of Omnicom Group's Rapp, Paul Price is leaving the direct shop to run a New York-based branding and design firm called Creative Realities.
The move may appear a curious one as Mr. Price, a former top DDB executive, was highly regarded by many within Omnicom. The holding company has demonstrated trust in the agency under his guidance when it allowed Rapp to lead a global holding-company pitch for the Hewlett-Packard technology group's advertising, direct marketing, media buying, search-engine marketing and interactive businesses last February. More recently, Rapp led a holding company pitch for Humana's direct, digital, creative and media duties. In both cases, Omnicom won the business.
But Mr. Price told Ad Age that Creative Realities -- which is owned by private equity firm Pegasus Capital and specializes in building branded environments -- presented him with an opportunity he had been looking for since he entered the marketing industry. The shop has offices in New York, Atlanta and London.
"Since I was an account executive I fantasized about entering [the branding and design] world but as my career progressed, the opportunities to do something in this space just got more limited," he said. "You can count on two hands the number of firms of any critical mass in this sector. It was too good an opportunity to walk away from ... this is one of the areas that has the freedom to solve client issues because it isn't caught up in lots of the traditional structures."
Rapp representatives did not return calls by press time.