Arun Sudhaman 02 Feb 2021 // 4:12AM GMT
HONG KONG — US consultancy Montieth & Company has formed an Asia-Pacific joint venture with leading local player SPRG to service the former firm's global clients in Hong Kong and beyond.
Montieth SPRG is a 50:50 JV between the US firm and the Hong Kong agency, which will be managed on a day-to-day basis by SPRG. The new venture is overseen by a JV board that features co-chairmans Montieth Illingworth and Richard Tsang, the CEOs of Montieth & Co and SPRG, respectively.
The JV is the latest stage of collaboration between the two firms, which stretches back to 2006. In its initial phase, the firm will serve clients from the Americas and EMEA that seek to penetrate new markets in Asia-Pacific and expand across the region, covering such services as marketing communications and media relations, issues and crisis management and financial communications/IR.
Montieth SPRG already has staff and clients in Hong Kong; beyond this market, the firm's requirements will be serviced by SPRG's regional network. Tsang told PRovoke Media that he expects Montieth SPRG to be around five to eight people within three years, but that it will remain separate from SPRG.
"It won't be a big operation, and I don't feel it should be," said Tsang. "It will be more advisory and consulting, using SPRG for arms and legs, and Hong Kong as a base to liaise across the region."
The joint venture will enable Montieth & Co, which also operates a London office in addition to New York, to more effectively pursue global clients. "SPRG’s depth of experience and expertise in the region is invaluable," said Montieth. "This is an opportunity for Montieth & Company to serve our North American and EMEA clients in some of the world’s fastest growing economies."
Tsang added that target sectors included technology, financial services and hospitality. "Clients will see our presence and also our track record."