M&C Saatchi’s Singapore regional CEO Chris Jaques called time on the agency’s operation as part of his strategy to focus on high-margin, high-growth businesses, according to Media Asia. The agency winds down in September.
Singapore is a low-margin, low-growth and highly competitive market. While the city-state has large regional clients, Jaques does not believe it makes sense to try and compete with bigger networks for regional business as it would require massive investment.
The agency will however not retreat from Singapore altogether.
M&C Saatchi will continue to pursue partnerships in direct, data, digital and mobile, and Singapore will form the network’s hub for these areas.