By MediaPost

UM, part of IPG Mediabrands, has promoted Jon Stimmel to become its new chief investment officer. He succeeds David Cohen, who last month was promoted to president of sibling firm Magna Global U.S.

Stimmel, whose promotion is effective immediately, will oversee the agency’s approach to media investment, and will lead all of UM’s investment units, buying models and strategic partnerships across the agency’s portfolio of clients.

Stimmel joined UM in late 2012. As EVP, managing partner, integrated investment, he was charged with the oversight of national media spending for clients such as Fiat Chrysler Automobiles, Charles Schwab, Nationwide and Sony. He also served as UM’s representative within IPG Mediabrands’ Magna Global investment councils for video, print, programmatic and automation initiatives.

Prior to joining UM, Stimmel spent four years at Starcom MediaVest Group and as director of investment at Unilever in both the U.S and Canada. He has served on various committees, including the Association of National Advertisers’ Alliance for Family Entertainment and on a number of advisory boards of emerging media companies.