Stuart Diamond, a Certified Public Accountant with a formidable and versatile background in corporate finance, today was named Chief Financial Officer of GroupM, North America.
The announcement was made by Marc Goldstein, CEO of GroupM North America, and Colin Barlow, GroupM Chief Financial Officer, Global. They said Diamond’s appointment is effective immediately.
Diamond, who most recently worked as chief financial officer of National Medical Health Card Systems Inc., replaces Joe Scangamor, who recently left GroupM to join another WPP agency, Enfatico, as COO-Chief Financial Officer.
“We’re extremely pleased that someone with Stuart’s credentials has chosen to join our ranks at GroupM,” said Goldstein. “His deep background and extensive experience in corporate finance are perfectly suited to handle this assignment.”
Diamond’s responsibilities will include establishing GroupM’s financial strategies for the region as well as overseeing all corporate accounting and finance activities. He will also handle budgets and forecasts and take a leadership role in future GroupM acquisitions, among other responsibilities.
“I look forward to working with Stuart in handling GroupM’s finances and helping the agency teams build on our leadership positions, especially in the area of new media opportunities,” said Barlow. “Given the current economy, coupled with an incredibly competitive landscape, it’s critical that we have the best financial leadership in our organization as possible. With Stuart's return to the WPP Group we get one of the best in the business."
Diamond’s background includes eight years working for Ogilvy Healthworld Corporation, where he served as Executive VP/Chief Financial Officer before leaving in 2005. He also has held increasingly responsible positions in finance departments at companies including Calvin Klein Inc., Fenway Partners Inc., Medicis Pharmaceutical Corp., and, in London, at DD U.K. Limited, better known in the U.S. as Dunkin’ Donuts.
Diamond received a bachelor’s degree from the State University of New York at Buffalo and a master’s of business administration from Fordham University’s Graduate School of Business. He will be based at GroupM headquarters in New York.
GroupM is the leading global media investment management operation. It serves as the parent company to WPP media agencies including MAXUS, MediaCom, Mediaedge:cia and MindShare. Our primary purpose is to maximize the performance of WPP’s media communications agencies on behalf of our clients, our shareholders and our people by operating as a parent and collaborator in performance-enhancing activities such as trading, content creation, sports, digital, finance, proprietary tool development and other business-critical capabilities. The agencies that comprise GroupM are all global operations in their own right with leading market positions. The focus of GroupM is the intelligent application of physical and intellectual scale to benefit trading, innovation, and new communication services, to bring competitive advantage to our clients and our companies.