Getty Images CEO, Jonathan Klein, intends to operate out of New York for about a year beginning in September. The rest of the executive team, with the exception of a soon to be names senior vice president of marketing, will remain in the Seattle headquarters.
During the recent conference call, Klein explained that New York is the company's second-largest office, with more sales people than anywhere else.Â It's also HQ for the editorial picture desk and footage ops. He says the company is trying to get closer to customers and its partners, and New York is a better place to do that than Seattle. The company's leadership in communications and public relations will also be moving to New York. Finally, he notes that New York puts him closer to Europe, where a big part of Getty Images' business is located. From a time-zone perspective, it makes communication and travel easier.
Peter Appert of Goldman Sachs asked if that meant Getty was planning to "step up the corporate development activity from an M&A standpoint?" Klein replied: "I wouldn't read it as that at all," but added that he's made it clear that the company plans to add significant music from labels and publishers to its collection, and New York has a role to play in that development.