This week on Agency Business, Olivia and Brian speak with Emma Armstrong, CEO of FCB New York and global transformation officer at FCB.

Emma shares how FCB’s structure gives local offices real autonomy, and how her newly formalized transformation role helps scale innovation across the network. She reflects on how her team built a strong creative reputation, why agency operations must evolve alongside new pricing models, and how FCB New York has maintained just 10% voluntary turnover for three years running.

She also discusses:

How AI is reshaping lower-funnel work, but not brand fundamentals
Why the project-vs-retainer debate misses the bigger picture
The business case for culture and psychological safety
Her perspective on in-housing, the Oliver model, and evolving client collaboration
How agency leaders should think about succession and structural change

Plus, in our weekly news segment, Brian and Olivia discuss:

WPP’s appointment of new CEO Cindy Rose, and why the board remains the key power center
Whether Rose’s tech and sales background will help the holding company reverse its trajectory
If Dentsu’s continued turnover and losses could signal a future divestment
Updated data from Madison and Wall showing between 2 and 3% growth across top independent agencies despite macro uncertainty

Subscribe to the Agency Business newsletter for episode notes and industry analysis every Monday.

Reach Out

Agency Business features agency CEOs and financial decision-makers alongside third party experts including agency pitch consultants. We are always accepting pitches, and are particularly interested in hearing from women and leaders of color.

Email us!

📩 Brian at brian@madisonandwall.com

📩 Olivia at olivia@fusionfrontmedia.com

Follow Madison and Wall and FusionFront Media on LinkedIn for updates.

Explore Our Other Podcasts:

📊 The Madison and Wall Podcast – Brian opens up about his latest work — plus crucial economic, financial, and industry trends.

🎬 Screen & Sponsor – Olivia & VaynerMedia's Jessie Holder explore how brands are shaping Hollywood.

SE02 EP11 – William Byrd, English Catholic Composer and Recusant – with Dr. Kerry McCarthy