$43.6B U.S. agency revenue
WPP has talked about luring talent from Omnicom and Publicis ahead of those companies' merger, but Omnicom has just poached a top exec from a WPP agency: JWT's Peter Sherman, who becomes exec VP at Omnicom, reporting to the holding company's CEO John Wren.
Mr. Sherman only joined WPP's JWT last June, first as CEO of New York but rising to CEO for North America in December.
Omnicom was vague on his new role, but said in a statement Monday morning that Mr. Sherman would work on "a series of major initiatives that include driving innovation and collaboration across the holding company's client portfolio."
Mr. Sherman was exec VP and managing director of Omnicom's BBDO Europe before joining JWT.
"Peter has a proven track record of effectively managing some of BBDO's largest clients," Mr. Wren said in a statement. "His global experience in multiple categories is perfect for the role of strengthening our relationships with our biggest clients by providing them with better and more integrated services. I am delighted he is returning to Omnicom."
The move comes as Omnicom gets its ducks in a row for its merger with holding-company rival Publicis Groupe. The companies expect that approval from China, which is the last major hurdle to global regulatory approval, will come in a matter of weeks, Publicis Groupe CEO Maurice Levy said during the Financial Times Digital Media Conference.
Prior to BBDO Europe, Mr. Sherman was managing director at BBDO, San Francisco. Under his leadership, the office's revenue nearly tripled, according to Mr. Sherman's JWT bio. Earlier in his career he also spent time at BBDO, New York; Interpublic Group of Cos.' McCann in New York; and FCB and Cramer-Krasselt in Chicago.
He also impressed JWT's leadership during his short stint as CEO. When the shop announced his promotion to CEO of North America, Bob Jeffrey, chairman-CEO of JWT Worldwide, said in a statement: "There's no clearer evidence of the momentum shift in New York than the office's recent run of new-business wins -- Energizer Personal Care, a Google assignment and, last week, Puma."