Grey Has Apparently Resigned its E*Trade Biz (Update: Affirmative)

Well, this certainly comes as a surprise this morning. We’ve received what appears to be a legit memo sent from Grey New York president/CCO Tor Myhren and COO Michael Houston to staff regarding one of the agency’s most well-regarded accounts. Read on:

“After a spectacularly successful six-year run, we are resigning the E*TRADE Financial account.
We think it’s in both Grey’s and E*TRADE’s best interests. Think of the history we’ve made. It’s worth celebrating.
Across six Super Bowls, the street-wise baby became synonymous with the E*TRADE brand’s maverick, consumer-championing DNA, proving online investing is so easy a baby can do it.

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The E*TRADE baby set new records for popularity and effectiveness in the Super Bowl, delivering sales success and unprecedented media buzz in broadcast, print and social media.  The commercials were ranked among the “most popular” on the game by CBS, USA TODAY, ADWEEK, ADVERTISING AGE, TIME, TIVO and NIELSEN, generating over 60 million YouTube views.  In addition, creative recognition for the baby and his friends included Effies, One Show, London International, AICP and D&AD honors. And it was also voted the best campaign in America two straight years by the Wall Street Journal.

E*TRADE, and all the terrific people we’ve worked with, have our everlasting gratitude and best wishes for continued success. We will always look back on this relationship as one of the best and most famously effective in Grey’s history.

Of course, we will do everything in our power to ensure a smooth transition over the coming months.

Thanks to everyone for all you’ve done on this game-changing account for Grey. Let us never forget this was the brand and the work that began our turnaround.

Tor and Michael.”

Sources familiar with the matter tell us it’s legit, and  if you want to recall some of the good times between Grey and its financial client, see above and below. From what we hear from, Grey “just though it’s time” to part ways with E*Trade, which we’ve been told has gone through seven CEOs since the relationship began.