GroupM has appointed MEC chief investment officer Sebastian Rennie as its new chief investment officer, replacing Danny Bass who announced this morning he is moving to IPG Mediabrands at its new CEO.

It is understood that Bass is on six months of “gardening leave” effective immediately after he announced he was moving to rival IPG Mediabrands.

Rennie (pictured below) has over 15 years’ media experience in a career that has spanned both the UK and Australia, where he has accumulated extensive investment experience having worked at some the largest agencies in both markets.

He replaces Danny Bass, who is leaving the post immediately ahead of joining IPG at a later date. GroupM Australia Chairman & CEO John Steedman said: “Seb is one of our brightest talents and is widely respected in the market by both media owners, clients and competitors.

“At GroupM, we value being able to retain our best and brightest by offering them opportunities within the group.

“I’d also like to thank Danny for everything he achieved for our clients over his time as chief investment officer and wish him well in the next chapter of his career.”