• by Erik Sass  @eriksass1, November 30, 2009

Starcom Mediavest Group has named Monica Gadsby to the newly created role of CEO for its multicultural and Latin America operations. Gadsby, previously the leader of its multicultural division, will replace Martha Marin, who is retiring after 30+ years.

In the new, combined executive role, Gadsby will be responsible for campaigns targeting minority populations within the United States, as well as international projects in South America, Central America, and Mexico.

This dual role will allow her to capitalize on her knowledge of common characteristics shared by immigrant communities in the United States and their home countries in Latin America. Gadsby also stated that it will "enhance talent mobility" and "accelerate best practices and cultural understanding" on behalf of clients.

Gadsby, who was born in Brazil, is fluent in Spanish, French, Italian, Portuguese and English, and has worked on multicultural accounts for Procter & Gamble, Kellogg, Kraft, Coke and Walmart.

Over the past decade, American advertisers have become more attentive to Latin American immigrants in the U.S. as well as their countries of origin. This includes distinguishing between regional variations in cultural and linguistic context when tailoring campaigns.

Broadly speaking, the two target markets display a number of characteristics that should appeal to advertisers, including growing disposable incomes. In 2008, per capita income in Latin America and the Caribbean was just under $6,550, according to the World Bank, up from $4,157 in 2005 and $4,000 in 2000 -- although wealth is very unevenly distributed between regions and within societies.

By contrast, the average '08 household income of Hispanics living in the United States was about $38,679, up from $33,565 in 2000.