Stagwell (STGW) Accelerates Asia-Pacific Growth with Opening of New Global Office in Singapore

Rhea-AI Summary

Stagwell (NASDAQ: STGW) announced the opening of a new regional headquarters in Singapore to support rapid growth in the Asia-Pacific region. The headquarters will connect local teams with Stagwell's marketing services and enhance client engagement. Randy Duax has been appointed as Managing Director for Asia Pacific, starting January 2022, and will collaborate with various agencies within the network. Stagwell's Global Affiliate Program now has representation in over 90 cities globally, expanding digital marketing and creative services across multiple key markets, including Singapore, China, and Japan.

Positive

• Opening of a new regional headquarters in Singapore to enhance growth.
• Appointment of Randy Duax as Managing Director, Asia Pacific, effective January 2022.
• Expansion of Stagwell's Global Affiliate Program to over 90 cities in 49 countries.
• Increased focus on digital marketing and connected solutions in key Asian markets.

Negative

• None.

Randy Duax to Lead Office as Managing Director, Asia Pacific

NEW YORK, Nov. 18, 2021 /PRNewswire/ -- (NASDAQ: STGW) – Stagwell, the challenger network built to transform marketing, today announced the opening of a new regional headquarters in Singapore to accommodate rapid growth and drive expansion across other key markets throughout Asia-Pacific. Singapore will serve as a key geographic hub to anchor the network's international client engagements and connect local teams with Stagwell's platform of best-in-class modern marketing services. The headquarters comes as Stagwell scales its blend of transformative creative and connected solutions to brands in key growth markets worldwide.

Randy Duax, who currently serves as SVP, Executive Talent at Stagwell, has been tapped to lead the office as Managing Director, Asia Pacific, effective January 2022. Duax will report to Chairman and CEO Mark Penn and work to connect Stagwell's leading marketing talent and digital services to client partners in Singapore and throughout Asia-Pacific, serving as a direct line to global leadership as the Company charts growth in the region. He will collaborate closely with Stagwell's multiple agencies in the region and its expanding roster of Global Affiliates, including Beyond Media Group and Metric Design Studio. Stagwell's Global Affiliate Program, launched just ten months ago, now provides representation in over 90 cities across 49 countries in Asia, Latin America, Europe, and Africa. Stagwell's APAC partners help expand crucial digital marketing, research, media and content services across Singapore, China, Japan, South Korea, and Thailand.

"We remain laser-focused at Stagwell on our mission to transform marketing – domestically and worldwide," said Mark Penn. "Singapore is the right location for Stagwell's regional headquarters and I'm excited for the growth of our network throughout Asia-Pacific. Randy's experience and long-term engagements in Singapore will serve our network well."

"Stagwell is open for business globally and I'm proud to contribute to our efforts to bring the creativity, strategic, and digital expertise of our teams to more partners in Asia-Pacific," added Duax. "I have made some of my greatest business partners – and even greater friends – in Singapore, and I'm thrilled to have the opportunity to build out Stagwell's anchor in this high-growth region."

Duax joined Stagwell (formerly MDC Partners Inc.) in 2016 as SVP, Talent and Recruiting from WPP, where he served as Talent Director of Asia Pacific and was responsible for senior executive recruitment across Singapore, Shanghai, Sydney and Tokyo. He is the latest leader from Stagwell tapped to drive results for clients based in Singapore. Earlier this year, global creative agency 72andSunny promoted Ida Siow – with previous tenures at BBH London, Ogilvy Shanghai, and J. Walter Thompson (now Wunderman Thompson) - to President, leading its Singapore office. Forsman & Bodenfors Singapore recently brought Po Kay Lee, formerly head of development Asia at WPP's SuperUnion, on as President, Singapore, and tapped Deborah Adams for the role of Chief Communications Officer. And MMI Agency named Sarah Hempstead as EVP, Global Growth Strategy based in Singapore earlier this year.

Stagwell boasts seven brands throughout the Asia-Pacific region: global communications firm Allison+Partners, global creative network 72andSunny, travel content and media brand INK, consumer research agency National Research Group, path-to-purchase shop MMI Agency, and global performance media agency Assembly, which was recently named Media Agency of the Year for Asia-Pacific by The Drum.

"Our presence in Singapore, and in APAC more broadly, is only growing, making it easier to partner with our colleagues across Stagwell Media Network and Stagwell more broadly to offer clients the tailored, digital-first expertise Stagwell is known for," added Richard Brosgill, Managing Director of APAC and RU for Assembly. "I've had the honor of working closely with Randy in recent months following the combination of Stagwell and MDC and he's already been instrumental in providing smart insights on the region and attracting new partners to our pipeline."

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.  Led by entrepreneurs, our 10,000+ specialists in 20+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

Contact:
Beth Sidhu
202-423-4414
beth.sidhu@stagwellglobal.com

 

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SOURCE Stagwell Inc.

FAQ

What recent announcement did Stagwell (STGW) make regarding its growth in Asia-Pacific?

Stagwell announced the opening of a new regional headquarters in Singapore to support its growth in the Asia-Pacific market.

Who will lead Stagwell's new office in Singapore?

Randy Duax has been appointed as the Managing Director for Asia Pacific, effective January 2022.

How is Stagwell expanding its services in Asia-Pacific?

Stagwell is expanding its services through its Global Affiliate Program, which now has representation in over 90 cities across 49 countries.

What markets will Stagwell focus on with its Singapore headquarters?

Stagwell will focus on key markets including Singapore, China, Japan, South Korea, and Thailand.