Biz news: Jasper Parrott bows out of the biz, still having it both ways

The London-based HarrisonParrott agency has been sold overnight to its staff, with strings attached.

Jasper Parrott, who co-founded the agency in 1969 with the late Terry Harrison, has sold what is described vaguely as ‘a large proportion of his majority stake’ to a trust representing its employees. His family will retain a minority holding and he will hand over the day-to-day running of the agency to his daughter Moema Parrott, who has worked there for 11 years.

Jasper Parrott, however, will remain executive chairman. He is 79 and his voice will still be heard.

Parrott said he had looked at an outside buyer, after AskonasHolt and Opus3 were sold to the San Francisco Conservatory of Music. In the end, though, he preferred to reward his staunch employees. As of today, there are 89 members of staff with a share in the company.

Pictured: Parrott with former lieutenant Tugze Tez