In case you missed Adweek‘s item yesterday on the state of SoCal agencies, the trade right off the bat mentioned that DDB’s Los Angeles office relocated 30 employees to the San Francisco branch last December as a result of the Wells Fargo loss. Well, not so fast. According to sources familiar with the matter, the number (30) is a bit high (more like 18-20, we hear) and as of now, there hasn’t been any staff relocation to SF as of yet as DDB is still figuring out its game plan for its Southern Cali branch. From what we’ve been told by sources, Wells Fargo was basically DDB LA’s sole client, so how this affects the agency is yet to be determined, though some on the Spy line allege that a closing could take place in the next few months–far from confirmed at this point, though.
In case you need a refresher, financial institution Wells Fargo decided to look for a new lead creative agency last fall after partnering with DDB for 20 years. At the beginning of this year, Wells Fargo sent a note stating that it expects to come to a decision by the end of this month, which likely means this week. We’ll keep you posted if and when we hear more, but as of now, DDB LA will be working with Wells Fargo through May from what sources tell us.