• International Herald Tribune, Monday, December 15, 2008 9:30 AM

Maurice Lévy, CEO of Paris-based Publicis, is so optimistic about the election of Barack Obama that it tempers his worries about the economy. "It erases all the bad images of the last eight years with one vote. It demonstrates the strengths of America, a formidable lesson for the world."

In the downturn, the CEO is convinced that big, geographically diversified advertising companies like his, and small, boutique agencies with creative reputations will fare better than midsize companies. But Lévy doesn't want to be too big. He says he is not holding discussions with Interpublic, as has been rumored. "We are not looking at any game-changing operations."

Revenue for Publicis, which includes Saatchi & Saatchi, Leo Burnett, ZenithOptimedia and Starcom Mediavest, will fall about 4% next year, say analysts. As a result, Publicis will keep investing heavily in emerging markets, where ad spending is growing. This month, the company acquired W&K Communications in Beijing. Last month, it announced the purchase of a Brazilian digital agency. "We have other negotiations under way in China and contacts in India," Lévy says.

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