PR News 2 minute read
The BCW group today announced the structure of its firms Genesis BCW and Six Degrees BCW for India.
In a conversation with PRmoment India, members of the newly set up BCW India board, clarified key aspects of how the companies will operate, how it will access each others' strengths and what industry sectors will matter going ahead.
Genesis BCW and Six Degrees structure under BCW India board
The two firms are separate legal entities with their individual leadership with oversight from the newly set up 'BCW India Board' (BIB). The board has Prema Sagar, former CEO, Genesis BCW as non-executive chairperson.
Additionally, the P and L of both firms will be combined. Matt Stafford, regional president, BCW in APAC clarified that while the two firms will have a combined P and L, revenues will be recorded separately as well.
Stafford also confirmed that the earn-out has happened on schedule for Six Degrees BCW, paving the way for the integration with Genesis BCW.
Rishi Seth, who is now Chief Executive Officer, Six Degrees BCW ( previously co-group CEO of the firm) said that " The option for the earn-out was there after 5 years. And as Matt, as well as Zach and I, wanted to move ahead with the integration, the earnout went ahead."
In a previous story, PRmoment India had reported that the integration will happen after the earn-out. Cohn & Wolfe acquired Six Degrees in September 2015.
Stafford said, that after a record period of double-digit growth in APAC after the global merger, he is confident of maintaining this for 2020 as well. This will benefit India as well, explained Stafford.
He said he believed the signing up of regional clients will result in a "Windfall of client referrals for India as well."
Additionally, Deepshikha Dharmaraj, the new CEO, Genesis BCW, said that the two firms will benefit from each other in various ways, including the sharing of properties such as Live! Newsroom and accessing BCW's global expertise in areas such as sports and its influencer management programme BCW Truefluence.
She also clarified that the two firms will be very careful about client conflicts.
Seth added that traditionally Six Degrees has had expertise in tech. Seth said that Six Degrees BCW will now be looking at pitching in areas such as financial services, healthcare and pharma.
Recruiting further, no people cuts
BCW also confirmed that there will no cut back from the staff as a result of the integration and said, in fact, the India region is looking to recruit.
Prema Sagar, who is now the non-executive chairman of the BCW India board said her priorities would be to ensure that the India region grows and also has happy team members. She also said she would be keen to see how the growth is taken forward in the years ahead, with the new opportunities available.