Jay Leveton, former CEO of Penn Schoen Berland, is the new partner at Stagwell Group, investment advisory shop helmed by research guru Mark Penn.
Leveton stepped down from PSB and executive VP at Burson Marsteller in July. He was replaced by co-CEOs Curtis Freet and Jon Penn, nephew of Mark Penn.
Stagwell, which plans to invest in advertising agencies, PR firms, data analytics and digital marketing entities, was launched in June with $250M in initial capital. Former Microsoft CEO Steve Ballmer is a "core investor."
Penn called Leveton a "perfect fit" for Stagwell due to his research and analytics background and knowledge of running marketing services business at scale.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
Why financial planning always plays a crucial role in every PR firm’s success.
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
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