Article: Lowe, Draft create consultancy, merge some functions; Aim to slash costs, spur new business, retain independence.(News)(Lowe & Partners Worldwide and DraftWorldwide insist that they are not merging)

Byline: LISA SANDERS

Lowe & Partners Worldwide and DraftWorldwide insist that they are not merging. But they are consolidating back-office and administrative functions in some markets and have created a consulting unit, known as Plus, which will drive business to both agencies.

Jerry Judge, CEO, Lowe & Partners Worldwide and Howard Draft, chairman-CEO, DraftWorldwide, are each determined to find ways the two can serve marketers on a global basis, and thus both grow. The pair has spent the last year learning the details of each other's business, from budget to clients to proprietary services, with the goal of identifying collaborative opportunities. Lowe ...

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