MAM
Online ad spend in the UK grows by 19 per cent
LONDON: Britain’s advertisers have reposed their faith in the Internet. Net advertising spend in the UK grew by 19 per cent year on year to ?196.7m in 2002, according to a survey by PricewaterhouseCoopers and the Interactive Advertising Bureau (IAB).
The survey states that large advertisers have started returning to the online platform after the dotcom bust. However, the Internet is still lagging behind the traditional media – merely 1.4 per cent of the total amount spent on behind television, radio and billboards.
IAB chairman and former chief executive of ITV Richard Eyre was quoted as saying that there is a perceptible change in the mindset as far as Internet advertising is concerned.
The survey adds that the sharp rise can be attributed to aggressive selling by professional sales teams; leveraging improved research; and the increasing amount of time consumers spend on the internet. It also added that mega brands can track the effectiveness of their ads more easily whenever they use advertising on the Net.
The IAB has targetted taking more than 2 per cent slice of the total advertising pie by 2004. IAB’s Eyre has urged online media owners to dream and aspire to set their sights higher to anything between 8-10 per cent.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
