David Cohen is to be promoted from chief investment officer at UM to heading Magna Global from the beginning of 2016, IPG Mediabrands has announced.

Cohen has worked at IPG for over 17 years and will report to global chief executive officer Henry Tajer whilst working with IPG Mediabrand clients including Johnson & Johnson, Coca-Cola and L’Oreal.

“David’s rise to oversee Magna Global US is the natural, next step for a leader that has already so positively impacted our clients and network with his forward-thinking strategies and solutions”, said Tajer.

“He’s now rightly positioned to bring even greater innovation across Magna’s core capabilities, working hand-in-hand with his partners at UM, Initiative, BPN, Cadreon and our other speciality units.”

“I look forward to working with and across IPG Mediabrands’ clients, media partners and fellow IPG agencies, infusing Magna’s best-in-class data, analytics, forecasting and intelligence teams and products into a number of new solutions to better serve these parties”, added Cohen.

“Early in my career, I recognized the importance of relationship building, and I am eager to begin working with a number of new and old faces as I take the helm at Magna Global US.”

UM executive vice president and managing partner of integrated investment Dani Benowitz has also been promoted to director of investment at Magna Global, effective from 1 January 2016, with their successors yet to be named.

“I am excited to take Dani’s talent and unparalleled relationships and bring them to bear across the Magna universe”, said Cohen.