GroupM said it appointed Nick Theakstone as global chief investment officer, a new post.
Theakstone, who had been CEO of GroupM in the U.K., will be based in London and New York. He reports to GroupM Global CEO Kelly Clark.
In his new post, he will oversee media investments, trading activities and commercial partnerships for GropuM, which handled $108.2 billion in client billings in 2016, according to RECMA.
Lyle Schwartz will continue in his role as chief investment officer for the U.S.
Tom George was named to succeed Theakstone as GroupM CEO in the U.K. He had been chairman of GroupM’s MEC unit for the U.K. and Northern Europe and head of business development.
“I’m delighted that Nick and Tom will take on these important roles for GroupM,” Clark said. “They are exceptional leaders, focused on creating advantage for clients and motivating opportunities for our people. Nick and Johan and their talented team will take our expanded investment operations to new heights, and I know Tom and our agencies will continue to build our successful UK business.”