AmEx Unit Taps Pile to Lead $55 Mil. Review

NEW YORK American Express, which said earlier this month that it is spinning off its Financial Advisors unit, has tapped consultancy Pile and Co. to handle a review for the business.

A Pile official confirmed the review is underway.

AmEx spent $55 million on domestic ads touting that unit in 2004, per Nielsen Monitor-Plus.

WPP Group’s Ogilvy & Mather has handled the $385 million U.S. AmEx account since 1979.

Interpublic Group’s Momentum in New York handles the New York client’s sponsorship business. Executives at both agencies were unavailable for comment.

The Boston-based consultancy has not compiled a list of agencies that would be invited to participate, but is expected to have one ready by the end of this week.