LONDON: Michael Murphy, former global CEO and chairman of Grayling, has launched an advisory agency.
Michael Murphy & aims to provide a range of specialist services to consultancies and agencies. It will cover areas such as entering markets, finding talent, accessing capital, and expanding through acquisition.
The firm will also support businesses in other sectors that are experiencing rapid change, the need to respond to particular challenges, or those that are considering international or sector expansion.
Murphy left Grayling this summer after a stint as non-executive chairman of the Huntsworth Group agency. He moved to the non-executive chair role in February when Pete Pedersen succeeded him as CEO. Murphy said last July that he would step down from the chief executive role as soon as a successor could be found.
Murphy explained that the “&” represented a wide network of partners he will use to help clients.
“The need for all businesses to become social and the growing complexity of stakeholder engagement is opening up new opportunities for marketing services firms,” he said. “There have been more than 500 M&A deals globally in the sector in the past 12 months.”
He added that “as this consolidation continues, firms are also being replaced by a wave of new start-ups.”
“They need support to grow and prosper,” Murphy said. “Similarly, there are many companies in manufacturing and services that, to survive, need to move from the comfort zone of their home market, sector, or existing channels and expand their businesses.”
This story originally appeared on the website of PRWeek UK.