NEW YORK -- Bank of America is looking to move its $170 million consumer and affluent-market account to one holding company, according to client representative Brad Russell. Interpublic Group and Omnicom have been invited to pitch the creative account, which IPG's Bozell has handled for four years.
"We want to achieve a more brand-centric, consistent approach in all of our communications," said Russell. "We want to integrate the brand consistently. It's much easier to achieve that when you have one account team from one holding company rather than different pieces from different places."
Three Omnicom shops already handle pieces of BofA's ad business. In June, BofA handed Omnicom's BBDO creative duties on a new assignment for the Asset Management Group without a review. Sibling shops Doremus and Arnell Group work on business-to-business and brand-identity work, respectively. The client rep said those assignments are not affected by the current review, so it is unclear how IPG can satisfy the client's desire for consistency in all communications if those accounts stay put.
BofA executives driving the review include chief marketing officer Catherine Bessant, brand and ad promotions executive Dan Rozelli and advertising executive Grant O'Neal. A decision is expected within 60-90 days, says Russell.
Bozell's latest work for BofA was a product-focused campaign that broke in May. One spot depicted a gruff-looking, knife-toting butcher following a frightened customer out of his store and down the dark alleys of Los Angeles. The payoff: The butcher hands the customer his forgotten photo-ID check card. Another spot touts BofA's fast mortgage process by showing a love-struck woman penning a letter to her husband, who's in the next room getting distraught over mortgage paperwork.