TD Ameritrade’s creative review comes amid the installation of a new chief marketing officer.
Last month, the online brokerage named Phillip Bowman to the role, filling a vacancy left by the January exit of Laurine Garrity, who’s now CMO at Charles Schwab. Previously, Bowman was svp of marketing of TD Bank, Ameritrade’s largest shareholder.
The incumbent on the business in review is Ogilvy & Mather. Beyond traditional advertising, the assignment includes digital and direct marketing.
The brokerage’s media spending exceeded $165 million last year, up slightly from $162 million in 2009, according to Nielsen. Those figures don’t include online spending.
Ogilvy, whose roots with the client trace back to the launch of the Ameritrade brand in 1997, plans to defend. The shop, which handles the account out of its New York office, had no comment.
A TD Ameritrade representative confirmed the review but declined to answer questions about the process.
The company’s headquarters is Omaha, Neb., but Bowman will be based at an office in Jersey City, N.J., where his new boss, Peter Sidebottom, evp of product, marketing and client experience, also works.