Grey is set to merge its capabilities with AKQA across five markets, Italy, Belgium, China, the United Arab Emirates and Australia. Forsman & Bodenfors will integrate Crispin Porter Bogusky’s UK agency, CPB London, four months after it opened a satellite office in London.
According to WPP, the AKQA-Grey merger is an efficiency drive that will allow it to focus on its core high-growth territories. It enhances the algnement between the two agencies created three-and-a-half years ago to form the AKQA Group, with headquarters split across London and New York. The two agencies already work together across clients, Volvo, Westfield and Coca-Cola.
The AKQA Group has 50 studios in 30 countries with 5,500 employees. Grey will now operate as a singular agency with 20 studios in 18 countries, while AKQA will hold 30 studios in 18 countries.
WhiteGrey and Grey Dubai will merge into AKQA and will now solely operate as AKQA in Australia and Dubai. Grey Italy and AKQA Italy will merge, but both brands will remain in the Italian market under AKQA leadership. Grey will assume management of AKQA’s Shanghai studio and operate as Grey in China. The two agencies already operate under one leadership for clients, Volvo, L’Oréal and Nike. AKQA will expand into Brussels for the first time as Famous Grey in Belgium rebrands.
There are no plans to integrate any other Grey studio into AKQA.
The new merger continues an efficiency drive that began in 2019 with the aim of saving over US$750 million by 2025. It has already merged a number of its agency brands, most recently communications companies Hill & Knowlton and BCW to form Burson, and Wunderman Thompson and VMLY&R to form VML.
Meanwhile CPB London will be absorbed into Forsman & Bodenfors’ new London agency in a decision by Stagwell Agencies. CPB London CEO, Helen James, will lead the newly combined entity, managing the team and reporting to Forsman & Bodenfors’ global CEO, Toby Southgate. The London agency will now become a major hub in the global Forsman & Bodenfors collective.
James will work alongside Johan Eghammer, F&B’s head of creative, who relocated to London mid-2023. The highly awarded creative has worked at Forsman & Bodenfors for over two decades. He was also previously executive creative director at Crispin Porter Bogusky in Boulder, Colorado.
CPB London has been highlighted for its creativity in the last two years with award-winning work at The Burberry British Diversity Awards, The Drum, the British Arrows and the Gerety Awards, The agency also won Digiday’s global Greater Good award for its Mother’s Day Cards by Misogynists work and was highly commended Agency of the Year at the Campaign / PRWeek Purpose Awards ’23.
Founded in 1986, Forsman & Bodenfors has become one of the most awarded agencies in the world, including winning 100+ Cannes Lions and being named in the Top 3 agencies of the decade. The agency is known for its flat structure, radical approach to collaboration, and commitment to ideas that transform business and shift culture. Its most famous work includes Epic Split and the Live Test Series for Volvo Trucks, E.V.A initiative and multiple launches and campaigns for Volvo Cars, Discover the Originals for Visit Sweden, Kami for Down Syndrome International, Wow No Cow for Oatly, and Marriage Market Takeover for SK-II. Forsman & Bodenfors is also the only global creative agency to have achieved gender pay equity as certified by Fair Pay Workplace.
Cover image by Bekky Bekks on Unsplash
