PLC

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Martin Sorrell

Sir Martin Sorrell (born 14 February 1945) is a British businessman and the chief executive officer (CEO) of WPP plc. He has served in that role since he started the company.

Early life and education

Born in London to a Jewish family, whose ancestors came from Russia, Poland and Romania, Sorrell was educated at the independent Haberdashers' Aske's Boys' School then Christ's College, Cambridge, and has an MBA from Harvard University.

Career

Early career

Sorrell joined Glendinning Associates, then James Gulliver and then worked for the sports agent Mark McCormack. He joined Saatchi & Saatchi in 1975, and was group finance director from 1977 until 1984. Often referred to as "the third brother", he designed and carried out many of Saatchi's agency acquisitions. Sorrell undertook this by refining the practice of the ‘earn-out’.

WPP

In 1985, Sorrell privately invested in Wire and Plastic Products, a British wire shopping basket manufacturer, and joined it full-time as Chief Executive in 1986. He began to acquire "below-the-line" advertising-related companies, purchasing 18 in three years, including in 1987 when he stunned the agency world with a $566 million "hostile" takeover of J. Walter Thompson. Sorrell followed this in 1989 with another dramatic hostile $825 million buy of Ogilvy and Mather. Since 2000, WPP has also acquired two more integrated, global agency networks, Young & Rubicam Brands and Grey.

WPP

WPP may refer to:

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Sir Martin

Sir Martin (1906–1930) was a Thoroughbred racehorse that was foaled in 1906 in Lexington, Kentucky at Hamburg Place, the stud farm of noted turfman and horse trainer John E. Madden. Sir Martin was a half brother to the first Triple Crown winner Sir Barton, and he raced in the United States, Great Britain and France. Sir Martin was the betting favorite for the 1909 Epsom Derby, but stumbled and threw his jockey at the Tattenham Corner turn, allowing King Edward VII's horse Minoru to win.

Pedigree

Sir Martin was sired by the imported British stallion, Ogden, who had been imported as a foal with his dam Oriole to Marcus Daly's Bitteroot Farm in Montana. Ogden was purchased by John Madden in 1901 and stood at Hamburg Place Stud in Lexington, Kentucky. Sir Martin's dam Lady Sterling was a daughter of Hanover and was also the dam of Sir Barton. Sir Martin inherited the deep chestnut coloring of his damsire, Hanover, and had a prominent white blaze on his fore head and one white sock on his left hind foot.

Wall Street

Wall Street is a 0.7-mile-long (1.1 km) street running eight blocks, roughly northwest to southeast, from Broadway to South Street on the East River in the Financial District of Lower Manhattan, New York City. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Anchored by Wall Street, New York City has been called both the most economically powerful city and the leading financial center of the world, and the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. Several other major exchanges have or had headquarters in the Wall Street area, including the New York Mercantile Exchange, the New York Board of Trade, and the former American Stock Exchange.

History

Early years

There are varying accounts about how the Dutch-named "de Waal Straat" got its name. A generally accepted version is that the name of the street was derived from an earthen wall on the northern boundary of the New Amsterdam settlement, perhaps to protect against English colonial encroachment or incursions by Native Americans. A conflicting explanation is that Wall Street was named after Walloons— the Dutch name for a Walloon is Waal. Among the first settlers that embarked on the ship "Nieu Nederlandt" in 1624 were 30 Walloon families. The Dutch word "wal" can be translated as "rampart". However, even some English maps show the name as Waal Straat, and not as Wal Straat.