IPG aims to emulate McCann's success with Lowe.(Interpublic Group, Frank Lowe)(Brief Article)

The development of a third IPG holding company is no surprise to Jeremy White

Last week's news that the Interpublic Group of companies was creating a new group, The Partnership, headed by Frank Lowe, chairman of The Lowe Group and Lowe Lintas & Partners Worldwide, came as little surprise to some.

When IPG's new chief executive, John Dooner, took over the reins it was inevitable that he was going to make his mark on the group. Developing a holding company along the lines of his old territory, the McCann World Group, seems to be his chosen starting point.

The restructuring follows the company's recent acquisition of True North Communications and means that The Partnership will now become IPG's third global network group alongside McCann-Erickson and True North's FCB Worldwide.

Lowe will head the new holding company, with True North's David Bell as the chief executive and Michael Sennott moving from Lowe Lintas & Partners Worldwide to act in a supporting role.

"What Dooner created with an integrated collection of agencies with the McCann World Group is, sensible thing to do and The Partnership is trying to replicate that," comments a source within IPG, who is reluctant to divulge their identity prior to official confirmation of the restructure. "Something like this is a sensible thing for Dooner to be doing. He needs to put some shape on the disparate parts of Interpublic."

Lauren Fine, the managing director in equity research at Merrill Lynch's New York office, concurs. "You've got a lot of different assets there and if you can align them differently and get them to work better together, it looks like a good idea," she says.