|Trevor Beattie says his new agency will specialize in branded entertainment and sponsorship projects.
Two other execs
Mr. Beattie is joined by Andrew McGuinness, the chief executive of TBWA London, and Bill Bungay, its deputy creative director. Matthew Vaughan, a film director and producer who is married to model Claudia Schiffer, is also involved. The new agency has not confirmed any clients at press time.
The move comes after months of industry speculation and is a huge blow to TBWA London, which has recently lost a number of key accounts, including the $40 million account of financial services giant Abbey and Rupert Murdoch's News Group Newspapers, also worth nearly $40 million.
Mr. Beattie in a statement said, "This is the toughest decision I've ever had to make. TBWA has been my life for the past decade. It means everything to me. But this is something I want to do. It will be a new kind of agency."
Mr. Beattie, who recently produced an adults-only burlesque show at a London theatre, will offer branded entertainment, sponsorship and product placement in his new setup.
Paul Bainsfair, president of TBWA Europe, will assume the title of chairman-CEO of TBWA London in addition to his existing duties. He said, "We are sorry so say goodbye to these guys, in particular, Trevor, whose contribution to the success of TBWA London over the past ten years has been outstanding."
Mr. Bainsfair has promoted Danny Brooke-Taylor and Tony McTear to become joint creative directors of the agency.
Not TBWA Lite
Mr. Beattie added, "We have no desire to create TBWA Lite. TBWA goes on. It remains the finest agency in London. TBWA will continue to do what it does brilliantly: creating brilliant ideas for brilliant clients. I will miss the people and the place, but I'll be cheering them on loudly from a little office somewhere.”