M&C Saatchi Indonesia CEO Anish Daryani buys 55% equity in biz, exits group

M&C Saatchi Indonesia, which was set up as a joint venture between M&C Saatchi Group and Anish Daryani, Dami Sidharta and Elki Hendria in 2018, has been acquired by Anish Daryani. M&C Saatchi Group’s 55% equity in the business has been acquired by Daryani for an undisclosed sum.

Cofounding partners Dami Sidharta, chief creative officer, and Elki Hendria, executive strategy and digital director, will continue to remain shareholders in the business, and an integral part of the leadership team.

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In a joint statement, Daryani who was founder and president director of M&C Saatchi Indonesia and chief growth officer of Southeast Asia, and Zillah Bing-Thorne, current CEO of M&C Saatchi group and chair of M&C Saatchi said it has been a “mutually rewarding partnership” over the last six years. During this time, there was a symbiotic relationship between the Indonesia entity and the group.

“Indonesia contributed wholeheartedly to the Group’s ambitions with respect to driving growth, profits and recognition for the M&C Saatchi brand. However, with the local management’s ambitions of taking the Indonesia business independent, a joint decision was reached to sell the group’s interest in the business to Anish Daryani,” the statement added.

M&C Saatchi Indonesia will be rebranded to a new entity in January 2024. There will be complete continuity of business with all clients, talent, partners and vendors under the new entity. The new entity will operate the business from the same premises in Menara Sentraya, Jakarta Selatan, Indonesia.

As the Indonesia creative, digital, PR and activation business goes independent, M&C Saatchi Performance, however, will continue to operate in Indonesia under a separate legal entity.

Daryani, said, “M&C Saatchi is one of the strongest brands in the business, and it has been my life’s honour to serve the group over the last six years. We started M&C Saatchi Indonesia with just the three of us (with Sidharta and Hendria), and have grown to a team of hundred.”

He added that the agency won many awards and he learnt the value of forging strong bonds with friends from across the network.

“However, as a creative entrepreneur, some of my ambitions can only be met as an independent entity, which regretfully involves my exit from the group. I’m grateful for all the good times we have shared together, and for Bing-Thorne’s keenness to agree to a deal that helps me race towards meeting my ambitions,” he said.

“For M&C Saatchi Group, I will continue to be a reliable friend. As we take our second first step, we wish to continue serving our clients with the same level of passion and integrity, and setting higher benchmarks in the industry,” he said.

Bing-Thorne said, “We have enjoyed our relationship with Daryani and wish him and colleagues all the very best for their new venture.”

Current clients of M&C Saatchi Indonesia include PermataBank, Bytedance, Sampoerna – Phillip Morris, Tempo Scan Group, Unilever, Kimia Pharma, Mandi Pharma, Mastercard, Grab, LG, Pertamina, Kemenperekraf (Wonderful Indonesia), Asian Paints, Adaro Energy, Ismaya Group and Astra Credit Company, among others.

The news comes shortly after it was revealed that M&C Saatchi Singapore's advertising arm will be merging its business with its Malaysia branch as the agency looks to make operations "more aligned". The team is now being led by CEO Lara Hussein.  MARKETING-INTERACTIVE understands that M&C Saatchi Performance on the other hand will remain. 

The Singapore office was being run by Madina Kalyayeva, managing director of M&C Saatchi Group Singapore and Ali Shabaz, chief creative officer, who took on the role in 2022.

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