Ogilvy Wins $80 Mil.+ Morgan Stanley

NEW YORK Morgan Stanley on Friday confirmed it has hired WPP Group’s Ogilvy & Mather for global creative chores on its ad account following a review.

The client spent $80 million on domestic ads last year, per Nielsen Monitor-Plus.

A Morgan Stanley representative would not disclose how much the company spends on ads outside the U.S., but one source said domestic efforts make up “the vast majority” of Morgan Stanley’s account.

The financial services company in August said it had invited the 17-year incumbent, Publicis Groupe’s Leo Burnett, to defend. The Chicago-based agency had said it parted ways with the client [Adweek Online, Aug. 11]. The shop had handled creative chores on the account in several iterations since 1988.

In a statement, Don Callahan, Morgan Stanley’s global marketing director, said, “We look forward to the renewed energy, diverse capabilities and fresh creative insights that Ogilvy will bring to Morgan Stanley, as they help us take our powerful brand to the next level.”

“Morgan Stanley is one of the golden names in the financial arena. We look forward to working with them as their global marketing partner to further leverage their distinctive strengths and continue to build their great brand around the world,” said Shelly Lazarus, chairman and CEO of Ogilvy & Mather in New York.

John Mack was named CEO of Morgan Stanley earlier this summer, and client CMO Phil Raskin, a former Burnett executive, also recently left the company.

The company spent nearly $160 million on all advertising last year, according to Nielsen. While half of that was for the Morgan Stanley brand, the other half was spent on its Discover credit card. Discover is handled by Omnicom’s Group’s Goodby, Silverstein & Partners in San Francisco.

—with David Gianatasio