TD Bank Group has consolidated its creative account between WPP Group’s Ogilvy and David, according to multiple people close to the situation. David was tapped for creative U.S duties and Ogilvy was named the bank’s agency partner for environmental social and governance strategies across North America. Ogilvy Canada will also become creative agency of record for TD’s Canada business.
The review began after TD Bank named Tyrrell Schmidt as its U.S chief marketing officer and head of global brand last August, with responsibilities of overseeing creative services and sponsorship strategies in the U.S. and Canada. The review was led by Joanne Davis Consulting.
“We look forward to working with Ogilvy and David and know that their team’s creativity, energy, and market expertise will help TD further elevate our brand and business for the future,” said Betsey Chung, exec VP and global chief marketing officer for TD Bank Group. “Through the agency RFP process, we were highly impressed by their award-winning work based on strong strategic insights and their committed agency teams. Their insights into our brand, customers and purpose-driven values are aligned with our vision and aspirations.”
“We are grateful to be entrusted with helping build and evolve the respected and beloved brand that is TD. It is a validation of Ogilvy’s heritage of building great brands,” said a spokesman for the agency.
The U.S incumbent in charge of creative was TBWAChiatDay, which had handled the account since 2016. The agency offered the following statement:
“Several months ago, we decided to part ways with TD Bank in a joint decision that marks the end of our relationship as their U.S. agency. We’re proud of the work we created together during our five-year partnership. Our ‘Unexpectedly Human’ platform changed the company, from internal communications to advertising to the retail experience. In fact, 32% of all new TD checking accounts were driven by our platform and campaign. It also provided inspiration for innovation, such as curbside banking in the early days of the pandemic. In a category where there is little movement, we moved people. We’re excited to pursue new and creatively rich opportunities in the category where our talent can do the best work of their careers. We thank TD for their partnership and wish them future success.”
Media has also changed hands. TD Bank said it made a decision a few months ago “to align media with Publicis Media for [the bank’s] North American business, retaining Unison in Canada and newly [adding] Zenith Media, a member of the Publicis Media Agencies in the U.S., and appointing Diamond as TD’s North American sponsorship and experiential agency.”
TD isn’t the only bank company to make some significant changes recently. Last February, Bank of America consolidated its business with a dedicated Publicis Groupe team that includes creative agency, Leo Burnett. The company also tapped Publicis’ Epsilon to help serve targeted ads to financial customers in a post-cookie world.
Also, last week Bank of America announced in a staff-wide memo that Meredith Verdone, who has been chief marketing officer for the past four years, will retire at the end of the year, and will not be replaced as the role will be eliminated in a restructuring.
This follows a few notable account wins for Ogilvy. In April the agency was named AOR in charge of brand strategy for Enterprise. In March, Ogilvy was named the global lead creative agency for Absolut Vodka and lead creative agency for Pernod Ricard USA’s Olmeca Altos Tequila, Tequila Avión and Del Maguey mezcal brands. In February, lighter brand, Zippo appointed Ogilvy as its creative, PR, and social agency partner.
Source: adage.com
