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Nick Horswell, a founding partner of the media agency PHD, is quitting to set up a new operation to advise small communications agencies.
His departure will break up the longstanding triumvirate with Jonathan Durden, the co-chairman, and the chief executive, David Pattison.
PHD was established 12 years ago.
Horswell signed a five-year earn-out contract after the agency bought itself out of Abbott Mead Vickers BBDO and then renewed it for another year. He plans to leave in January 2002.
During his 12 years at the agency, Horswell oversaw internal operations and also played a key part in the development of the PHD group companies, which include Rocket, Compass and Apollo.
Horswell said he was leaving for personal reasons because he has "an itch I want to scratch".
He added: ...