AmEx Unit Makes a Cut in $55 Mil. Review

NEW YORK Four agencies have advanced to the final round of a review for the estimated $55 million American Express Financial Advisors account, according to sources.

Pursuing the business are Interpublic Group’s McCann Erickson, Publicis Groupe’s Saatchi & Saatchi and WPP Group’s Ogilvy & Mather, all in New York, along with one other agency that could not immediately be identified, sources said.

The company, which is set to spin off from AmEx by the end of this year, will need a new brand name and ad launch.

Ogilvy, which handles the overall American Express account, has been given a pass to the final round, sources said.

Client executives met with at least six agencies at AmEx’s New York office last week. Of those, IPG’s Foote Cone & Belding and Omnicom Group’s TBWA\Chiat\Day were cut.

Pile and Co. in Boston, the consultancy handling the process, declined comment. Client and agency executives either could not be reached or declined comment.