Reuters – WPP, the world’s biggest advertising group, is to appoint an executive in Cuba, saying yesterday it would be the first major international communications services group to conduct business on the communist-ruled island.
The move comes a day after the US and Cuba formally agreed to restore diplomatic relations on July 20.
WPP, parent to the Ogilvy & Mather and J Walter Thomson advertising networks and which already generates group revenue of $1.6-billion in Latin America, signed a contract with state-owned advertising firm Palco Group under which it will base an executive in the Cuban capital, Havana.
The company said it had been in contact with Cuban agencies and enterprises since February and had maintained contacts with Cuban and internationalfirms to provide its services from a local base in the near future.
“WPP is working to provide its international clients with strategic counsel on the institutional and economic environment in Cuba, as well as advice and guidance in planning for eventual Cuba market entry and brand visibility on the island nation.”