$230 Mil. BofA Media Shifts to Initiative

NEW YORK Bank of America has moved its media business to Interpublic Group’s Initiative from IPG sibling Deutsch.

A representative for Deutsch in New York confirmed the shift, saying the move had been expected since last year, but declined further comment. Client officials and executives at Initiative could not immediately be reached.

The bank spent $230 million on domestic ads last year after spending $160 million in 2003, per Nielsen Monitor-Plus.

Last September, IPG shifted a portion of BofA’s account from Deutsch to other IPG units. A rep for the holding company said the move was initiated by IPG. At the time, sources said the work moved to IPG’s Draft and Flag, both in New York. Flag added Deutsch’s consumer TV assignment, while Draft picked up print, out-of-home, radio and direct-response TV.

Deutsch no longer works on any portion of the BofA business.

—Adweek staff report