- David Gianatasio

Five agencies are pitching the creative portion of the Citizens Bank advertising account.

Pursuing the business are Interpublic Group's Draftfcb and Mullen; and WPP Group's Grey, Ogilvy & Mather and Young & Rubicam.

Havas' Arnold in Boston has been the bank's lead agency for nearly a decade, is no longer in contention.

"Arnold has been a valued partner to Citizens and we appreciate the role they have played in helping to propel our business" said Theresa McLaughlin, client CMO, in a statement. "We wish them luck and remain focused on identifying the right agency to fuel our next phase of growth."

Added Arnold CEO Fran Kelly: "When the review was announced, it became clear to us that there were other options for Arnold. So the time seemed right to focus on our future, and allow Citizens to focus on finding the right new partner."

In recent years, the client has spent $12-15 million annually on ads, per Nielsen.

Consultancy Pile + Co. is coordinating the review, which began in October and is expected to finish up by year's end.