Euro-JMCP Pact Trails Exec’s Exit

Euro RSCG’s proposed acquisition of Procter & Gamble shop Jordan McGrath Case & Partners comes on the heels of this month’s departure of Euro vice chairman Steve Dworin, whose duties included servicing P&G accounts within Euro.
Dworin will not be replaced, a Euro spokeswoman said. His next move could not be determined at press time.
Both Euro and JMCP insisted that they chose each other to deepen their healthcare credentials, not to strengthen ties to P&G.
“Other [suitors] were more interested in bulking up or adding some Procter business,” said Abe Jones, managing director at Admedia Partners, advisor to JMCP on the deal. “Pat [McGrath]’s firm has become much more strongly focused on healthcare.” Clients include SmithKline Beecham, Pharmacia & Upjohn and Novartis.
JMCP president and CEO McGrath said access to Euro and Havas’ global network will strengthen the agency’s hand in pitches and give it a chance to expand client relationships, although he noted that P&G’s “global alignment is pretty well set.” Bob Schmetterer, chairman of Euro, said the acquisition had P&G’s blessing. P&G declined comment. –with Hank Kim and Trevor Jensen