Stringham Poised to Lead Y&R Brands

NEW YORK Peter Stringham, the outgoing global marketing chief at HSBC Group, is said to be in advanced negotiations to become CEO of WPP Group’s Young & Rubicam Brands, per sources.

As such, Stringham would fill a vacancy created by the December exit of Ann Fudge.

Y&R Brands is a multidisciplinary group that encompasses Y&R, Wunderman, Landor Associates, Burson-Marsteller, Sudler & Hennessey and other specialty units in the marketing communications realm.

Fudge had been worldwide CEO of both Y&R Brands and the Y&R ad agency; in June, Hamish McLennan replaced her in the latter role.

Before HSBC, Stringham was North American CEO of Y&R in New York. He held that post for nearly three years and left in the wake of WPP Group’s $4.7 billion acquisition of Y&R Inc., which closed in October 2000.

Stringham joined HSBC in January 2001, and in 2004 he steered a review that resulted in the bank consolidating its $600 million global marketing services account at nine WPP units, JWT chief among them.

In October, HSBC said Stringham was leaving the bank, effective in March.

Then, on Monday, he vacated his office at HSBC in London, telling colleagues that he was taking another job, said sources.

Stringham did not return multiple messages, nor did McLennan. A Y&R representative had no immediate comment and WPP did not return calls.

Earlier in his career, Stringham was president of the Canadian operations of Omnicom Group’s BBDO.