Martin Sorrell, the former chief executive of advertising giant WPP PLC, has agreed to take the helm at Derriston Capital, a listed shell company he plans to use to acquire marketing and advertising businesses.
Mr. Sorrell will invest £40 million ($53 million) of his own money in the new venture, while a bevy of institutional and other investors have agreed to commit an initial £11 million to become shareholders in Derriston, the company said in a statement on Wednesday. Mr. Sorrell has secured nonbinding letters of support...