Business 27 June 1985

An increasing number of goods and services are now marketed internationally and a major challenge for all countries, including Ireland, is that of developing industries that will succeed in an international context. This was emphasised by Bill Phillips, chairman of Ogilvy & Mather, the second largest advertising agency in the US and the third largest worldwide, at a press conference in Dublin earlier in June.

Ogilvy & Mather acquired 80% of the Irish Wilson Hartnell Group last year.

"It is important that the local advisers of Irish exporting companies have access to international marketing know-how and networks. This is especially true of advertising. The best combination is an indigenous advertising agency that knows and services the domestic marketplace and is also linked into an international network. We at Ogilvy & Mather learn about indivvidual markets from our specialists in those markets," Mr Phillips said.

Explaining why his agency had decided to establish a presence in Ireeland, Mr Phillips said that Ireland was

clearly an important exporting counntry and that Ogilvy & Mather were keen to participate in Ireland's further marketing development. Ogilvy & Mather also had a number of key clients who were active in this market. Wilson Hartnell was selected after careeful research because of its unique development record over the last twenty years and its emphasis on creative quality and client servicing, which were also major priorities of Ogilvy & Mather.

Ogilvy & Mather is the premier pubblicly traded advertising agency in the US. The shares of the group have risen 40% since mid-1984. Net income jumped 45% in 1984 to 25.8 million dollars, while revenues were up 22.5% to 439 million dollars.

Mr Phillips was in Dublin for a group planning meeting. This is the first time that Ogilvy & Mather have held an international meeting in Ireeland. Other senior group executives who attended were Peter Warren, chairrman, Uk, Michel Richardot, chairman, France, and Cees de Best, financial dirrector, Europe. •

The First National Building Society announced earlier this month that it has concluded negotations with the Board of Postal Service Permanent Building Society to take over that thriving Limerick-based society, which has been established since 1966.

The transfer of engagements to the First National will be recommended by the directors of Postal Service Perrmanent Building Society to their shareholders at a meeting to be held shortly.

This is the third takeover by the First National in the space of eighteen months. The move to absorb the Posstal Service society follows the previous and fairly recent successful bids to bring the Ireland Benefit Building Socciety and Guinness Permanent Building Society under the First National corrporate umbrella.

The First National has been expannding rapidly, particularly in recent years. At the end of 1984 it moved into second place in size in the overall building society league table. With the transfer of an expected £8,600,000 in assets from Postal Service, which has a reserve ratio of 6.74%, a liquidity ratio of 12.18% and three prestige office locations in Limerick, the growth of the First National takes another surge, with total assets now exceeding £605 million.

Mr Thomas Duffy, managing direcctor of Postal Service, whose employyment is to continue, will contribute on an on-going basis to the continuing development of services to the Limerrick region. •

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