MullenLowe Philippines is rebranding as MullenLowe Treyna following a buyout by local shareholders of The Interpublic Group of Companies’ (NYSE: IPG) holdings in Treyna Holdings, Inc. – the holding company of MullenLowe Philippines. Under the terms of the deal, IPG will retain its significant direct investment in the rebranded agency.
The deal sees long-time Treyna shareholders – the Trillana and Siguion-Reyna families – significantly increase their equity stakes in the agency group with Mike Trillana becoming the lead local shareholder. The deal also ushers in Leigh Reyes, who recently retired as agency President, and Abi Aquino (MullenLowe Treyna CCO), as shareholders in the new organization.
“We feel very fortunate to have had a meeting of the minds with IPG. They’ve been fantastic partners for over four decades and we both felt that in unchartered times like these, it was best for local shareholders to take on the leadership mantle as it gives the agency the agility and flexibility needed to take advantage of the opportunities in the local scene,” says Mike Trillana, president and CEO of MullenLowe Treyna. “Leigh, Abi and I have always run this agency with a ‘color outside the lines’ start-up attitude and the new set-up is the best of all worlds. IPG remains a strong partner and we will be able to further imbibe the agency with a spirit of experimentation and innovation that is needed now more than ever. In the end, the new set-up means we can respond more powerfully and purposefully to our clients’ needs.”
Commenting on the announcement, Alex Leikikh, Global CEO, MullenLowe Group, said, “This decision is a continuation of MullenLowe Group’s strategy of refining our Asia Pacific footprint to ensure we are meeting the needs of current and future clients. The geographic balance of controlled operations in core APAC hubs can complement other South East Asia markets where locally driven affiliates benefit from continuity in management who are familiar with the network and network clients, but have the flexibility to be more locally focused and more responsive to changing local market needs.”