What you need to know:

• Lucy Formosa Morgan, who spent a decade in leadership at PHD, has joined IPG Mediabrands’ intel and investment division, MAGNA Australia as Managing Director.
• She takes over from Nick Durrant, who announced last month that he would be taking extended leave to travel.

Former PHD National Managing Director and Chief Investment Officer Lucy Formosa Morgan has been named the new Managing Director of IPG Mediabrands’ MAGNA Australia, taking over from Nick Durrant.

Formosa Morgan has two decades of experience in the local and international market and worked since February as Commercial Operations Director at NOVA Entertainment. She starts in the role on July 26, not long before Durrant departs on extended sabbatical leave to travel with his family.

“Lucy is a well experienced and highly capable executive. We have worked together in several roles over the years – so I know exactly what she will bring and the difference she will make,” Mark Coad, Mediabrands Australia CEO, said.

“She is extremely highly regarded across the industry and by our media partners, and will bring all of that to bear as she takes on the leadership of Magna. She will also make a valued contribution to the overall Mediabrands business as she takes a place on our Executive Leadership Team.”

Coad said the role at Mediabrands’ media intelligence and investment division is about more than the group’s negotiations and investment, “but how we work with our media partners to execute the digital, data and tech capabilities in market.”

Formosa Morgan said: “Magna has clear opportunities to continue to evolve its investment product, taking full advantage of the ongoing dramatic shifts in consumer behaviour that we have seen over the past 2 years. I am delighted to join such a highly experienced and passionate team.”