The firm continued to grow within Latin America and cement itself as a major Hispanic agency in the US, with double-digit growth in its US Hispanic division.
"We were able to get incremental assignments from existing clients, particularly additional projects," says Jorge Ortega, president. Abbott Laboratories is one such client that expanded its work within Latin America. Ortega adds that current clients who may have used several agencies for different aspects of communications work are starting to rely more on The Jeffrey Group.
Ortega describes the "next big wave" for the agency as Latin American multinational corporations. Taca Airlines and Mexican juice company Jumex are the two brands that helped the agency break into that area.
The firm reported a headcount of 58, down from 2007, with an 18% turnover. It lost senior staffers: Ediana Balleroni, MD Brazil, and Diego Kaufman, MD Argentina. Cristina Iglecio joined from Burson-Marsteller and now serves as GM for The Jeffrey Group Brazil.
While the three markets in Latin America – Mexico, Argentina, and Brazil – showed strong growth, the US Hispanic practice grew more than 40% from 2007 to 2008.
Practice areas are based on geographic regions, with 72% of work based in Latin America, 28% in the US Hispanic practice.
Key account wins in 2008 include Sony Latin America, Airbus (in Latin America), Fox Sports en Español (US Hispanic), and ongoing projects with Coca-Cola and T-Mobile in US Hispanic.
The firm reported revenue of $6.3 million for 2008, a 17% increase over 2007.
Principals: Jeffrey Sharlach, CEO (pictured); Jorge Ortega, president
Offices: Two in US; five globally