BNY Mellon has found a new lead creative agency.
Doremus succeeds The Concept Farm on the assignment, which is global and expected to be backed by nearly $15 million in media spending. Beyond North America, BNY Mellon markets its asset and securities management business in Europe, the Middle East, Africa, and the Asia-Pacific region.
The hire came after a review that was triggered in part by BNY Mellon’s global growth. Four agencies contended for the business: the incumbent, Doremus, and two others that could not be ascertained.
BNY Mellon, formed via Bank of New York’s 2007 acquisition of Mellon Financial Corp., reported total revenue of $13.8 billion last year and manages $1.2 trillion in assets.
The company’s media business was not in play and remains at The Media Kitchen, a unit of Kirshenbaum Bond Senecal + Partners in New York.
In selecting Doremus, BNY Mellon chief marketing officer Peter Hayes cited the Omnicom Group shop’s “category insights, strong strategic thinking, and the ability to creatively and powerfully help us move to the next level in our brand evolution.” Doremus worldwide president Howard Sherman, in turn, described BNY Mellon as a “powerful and unique global institution.”
Got to love those honeymoon-period quotes.