The Economist names new leadership in Asia

Tim Pinnegar, publisher of The Economist, has stepped into a new role of managing director Asia Pacific as the newspaper reports a 21% jump in ad revenue.

In Asia, Pinnegar (pictured) has taken management of all business units within the Economist Group.

The Economist Intelligence Unit however will be run by Henry Luk as regional director & group development director.

Michael Brunt will take on responsibility for circulation marketing for CFO magazine in addition to his current role as circulation & marketing director of The Economist. Huw Harries will become publisher of CFO while maintaining his regional sales director role.

Andrew Rashbass, newly appointed CEO of The Economist Group, said the company now has a strong team in place with "an excellent record within the company."

"We look forward to building on the excellent results of the last year and to delivering growth by continuing to develop intelligent media brands for the high end audience across the world," he said in a statement.

Pinnegar added that the new structure in Asia means The Economist now holds greater autonomy to run our businesses from Asia.

"This will enable us to serve our customers better and quicker and more effectively use our resources. My aim is to double the profit Asia delivers over the next three years and so continue the increasing importance of the region to the worldwide numbers. It's indeed a very exciting time," Pinnegar said.

Advertising revenue for The Economist in Asia is up 21% last year, with revenue for the CFO business is up 8%. Sales revenue for the Economist Intelligence Unit jumped 30%, while circulation of The Economist for the January to June 2008 audit period will be more than 130,000 copies in Asia.

Meanwhile, the group has expanded its presence in India, with local offices established and local managers appointed at The Economist and the Economist Intelligence Unit.