AdMedia Partners, a financial advisory firm in New York that serves the advertising, marketing, media, publishing and interactive industries, has hired Philip Palazzo Jr. as managing director of its ad and marketing services practice. Palazzo, 48, previously had been chief executive officer of MC2, where he added a number of major global brands to the client roster while streamlining the company's operational and financial practices. Before MC2, he was president of international operations at Ammirati Puris Lintas and served on the agency's worldwide operating board. During his 18-year tenure at APL and predecessor agency Ammirati & Puris, Palazzo was general manager of APL's flagship New York office and chief financial officer of APL Americas. He also served on the management committee of APL New York. Founded in 1990, AdMedia provides investment banking and consulting services for mergers and acquisitions, debt and equity financing, divestitures and valuations.