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Specific Media has partnered with Justin Timberlake to become the surprise new owners of music-led social networking site Myspace, in a $35m deal with Rupert Murdoch’s News Corporation.

A spokesman for Specific Media stressed that the Emmy and Grammy winning artist Timberlake will take an ownership stake and “play a major role in developing the creative direction and strategy for the company moving forward”.

WPP has to improve the way it recruits and develops people, Sir Martin Sorrell candidly admitted last night, as he hit out at the ad industry’s “basic approach” of “nicking staff”.

In an interview with Campaign editor Claire Beale, in front of 200 people for industry charity Nabs, the man who has built the world’s largest marketing services group in the past quarter century, drew attention to its recruitment shortcomings.

 

Asda marketing director Jon Owen has quit after a year in the post to join clothing brand Very.

Owen left the supermarket giant this week to become the director of  the online clothing brand owned by Shop Direct Group. He had been with ASDA for five years.

 

Sharon Baylay, the BBC’s former director of marketing, communications and audiences, received a redundancy payment of just under £390,000, it is claimed today.

Baylay’s departure from the corporation was made public in October last year as part of a reduction in the size of the corporation’s executive board.

 

Peter Magnani has been appointed president of global account management at Omnicom Media Group (OMG) EMEA.

He moves to the post from his role as director of international clients for the EMEA region.

 

R/GA London has appointed George Prest, the former DLKW Lowe executive creative director, as its executive creative director.

His appointment at the digital agency follows the recruitment last week of planning director Russell Davies, from Ogilvy & Mather, as R/GA looks to strengthen its London presence.

 

CITI PRIVATE BANK

The banking arm of Citi Group said it appointed Alexander Zaharoff as a managing director and head of the investment lab in North America. He joins from Carleon Capital Partners.

REVERE CAPITAL ADVISORS

The alternative investment firm named John Mackin as its Global Head of marketing and business development. He will lead a four-member global team seeking to build relationships with investors that share a strategic interest in emerging managers.

BARCLAYS WEALTH

Robert E. Miller, Jorge Carreras, Carlos Molina, Douglas R. Bayer, Joseph Gilbert and Daniel Caso join Barclays Wealth as investment representatives.

While Miller joins from Merrill Lynch, Carreras, Molina, Bayer and Gilbert join from Morgan Stanley Smith Barney.

BLUEFIN CORPORATE CONSULTING

Bluefin appointed James Watson as a health and risk consultant. Watson joins from Capita Hartshead, where he was a group risk consultant.

JEFFERIES GROUP INC

Anthony Fitzpatrick has joined Jefferies as a managing director and head of European chemicals investment banking. He was formerly with UBS Securities.

BANK SARASIN & CO.

Fredi Lutz has joined Bank Sarasin & Co will take over as head of the trading business unit. Since 1999 Fredi Lutz has been an independent asset manager.

 NEWEDGE SECURITIES

Alastair Sclater joins as regional head of origination & structuring APAC. He was previously with Mizuho Securities.

Miriam Zaitoun and Jasper Chua join as an associate director at the origination & structuring team. Zaitoun was most recently a vice-president with Deutsche Bank and Chua joins from Bank of America Merrill Lynch.

Michael Dolan joins as head of EdgeConnect and John Pitt joins the EdgeConnect team as head of commission management services. Both of them join from Instinet.

Nigel Phillips

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