Interpublic Group has named Brendan Moorcroft CEO of its trading desk unit, Cadreon.
Moorcroft is a founder of one-year-old Cadreon, which was initially led by Quentin George, who is chief digital officer of IPG’s Mediabrands unit.
Moorcroft has spent the past three years as svp of global digital strategy for Universal McCann and Mediabrands. Prior to that, he was group director of engagement management for Omnicom Group’s Organic..
Cadreon is one of a crop of agency holding group units that are using demand-side platforms and other technology to buy ads targeted to specific audiences from ad exchanges like DoubleClick, inventory aggregators like PubMatic and directly from large sites. These units include WPP Group’s B3 and Publicis Groupe’s VivaKi.
”It really changes your view on media, going from looking at media on the basis of a property to looking at media on the basis of an audience intersecting with that property,” said Matt Freeman, CEO of Mediabrands Ventures, the sub-unit of Mediabrands that houses specialist marketing companies, including Cadreon. “That’s a simple but profound change in the way you value and purchase media.
Cadreon, which is based in San Francisco, now has 50 staffers and makes buys on behalf of Microsoft, Sony, Verizon and other IPG clients.
Moorcroftt said Cadreon has promised to transform the way the bulk of online advertising is bought, potentially eliminating most of the waste in buys that reach many people not in the target audience. ”We’ll only reach the people we want to reach,” he said. “Now we can focus on what the right outcomes are.”