WPP, the media buyer, will today announce the creation of MindShare Asia in Hong Kong, China, Taiwan, Singapore and Thailand. The company will be formed from the merger of the media operations of J Walter Thompson and Ogilvy & Mather in five markets, and will have billings of over $1bn.
Martin Sorrell, chief executive of WPP Group, was once again the top earner in the marketing services industry last year, with a total pay packet of pounds 2.8m, according to the annual survey by Willott Kingston Smith. GGT Group's chairman and chief executive, Michael Greenlees, was awarded the biggest percentage pay rise in UK listed marketing companies. His pay rose 31 per cent to pounds 466,000. The survey found the industry was prospering, with pre-tax profits of the top 50 groups almost doubling to pounds 332m.