MAM
WPP’s Wunderman acquires Bridge Worldwide
MUMBAI: WPP Group’s Wunderman has acquired marketing and interactive agency Bridge Worldwide (‘Bridge’), which is a Cincinnati-based interactive relationship marketing agency specialising in Fortune 100 consumer packaged goods and healthcare.
The acquisition of Bridge enhances Wunderman’s online and healthcare expertise and continues WPP’s strategy of developing its networks in fast growing markets and sectors.
AdMedia Partners, a New York investment bank specialising in mergers and acquisitions advisory services to the advertising and marketing, media, and related online and information services businesses, represented Bridge Worldwide in the acquisition.
“Bridge pioneered the use of the internet to establish active ongoing relationships between major consumer brands and their customers. The acquisition reflects Wunderman’s understanding of the importance of this new way to serve CPG clients, said Seth Alpert, one of the investment bankers who led Bridge’s deal team.
Leveraging the Internet as the hub of many of its programs, Bridge Worldwide’s results-driven creative has built consumer relationships for some of the world’s best known brands, including the CPG leader Procter & Gamble.
Bridge Worldwide will have access to the diverse resources of Wunderman’s global network; however, it will operate as an independent unit of Wunderman. Terms of the financial agreement were not disclosed.
“Bridge Worldwide’s depth of online and healthcare experience complements Wunderman’s, and we both share the same philosophies about the power of customer relationships and online dialog,” said Wunderman chairman and CEO Daniel Morel.
Bridge Worldwide, headquartered in Cincinnati, Ohio, employs more than 120 people and was named as one of the fastest growing companies in the city.
Bridge Worldwide president and CEO Jay Woffington said, “We are very excited to join WPP and be affiliated with a world-class organization such as Wunderman. This move allows us to tap into the expertise and the global scale of the network while maintaining our entrepreneurial culture and our flexible creative and strategic approach for our clients.”
Bridge’s audited revenues for the year ended 31 December 2004 were $10.2 million with net assets at completion of $1.8 million.
Brands
Eneet Chadha joins Apex Group as senior vice president
Former Citco and BNY executive to lead strategic fund servicing push
PUNE: Apex Group Limited has appointed Eneet Chadha as senior vice president, strengthening its senior leadership ranks as it sharpens its focus on alternative investments and hedge fund servicing.
In his new role, Chadha will lead strategic fund administration and hedge fund servicing within the group’s global alternatives platform. His remit includes driving operational excellence, deepening client relationships and improving service delivery across complex financial portfolios.
Before joining Apex Group, Chadha served as vice president – hedge fund at The Citco Group Limited. He previously spent more than 12 years at BNY, where he worked as lead manager – fund accounting and reconciliation. He began his career at State Street as a team leader.
The appointment reflects Apex Group’s continued investment in senior talent as competition intensifies across global fund administration, particularly in alternatives where scale, precision and client trust are increasingly decisive.
