FCB buys London agency

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Foote, Cone & Belding Worldwide, Chicago, acquired independent London ad agency Banks Hoggins O'Shea and merged it with the London office of Foote, Cone & Belding. Terms were not disclosed. The new combined agency, Banks Hoggins O'Shea/FCB, will open for business Jan. 1 and claims $209 million in billings. John Banks, currently chairman of Banks Hoggins O'Shea, will be chairman-CEO of the new agency, which will be located in Banks Hoggins O'Shea's offices. Banks Hoggins O'Shea has a staff of 80 while FCB, London, has a staff of 60.

Copyright November 1998, Crain Communications Inc.

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