Commerce Bank has tapped Olson to handle marketing for its retail, commercial and trust units.
The shift came after a review following the bank’s parting of ways with 14-year incumbent Bernstein-Rein, Kansas City. Other finalists in the review included The Richards Group, Dallas and Rodgers Townsend, St. Louis, sources said.
Commerce spent about $15 million on marketing in 2012, according to its annual report.
Olson becomes the bank's lead agency, picking up brand strategy, research, advertising, media planning and buying, digital, mobile, social and analytics.
The Minneapolis agency already has category experience with current financial clients like Northwestern Mutual and residential mortgage company Guaranteed Rate. Kansas City-based Commerce has 200 retail branches in Missouri, Kansas, Illinois, Oklahoma and Colorado, in addition to commercial offices in Cincinnati, Nashville and Dallas. Its operating units are involved in mortgage banking, leasing, credit-related insurance, private equity and real estate.
Aside from no longer doing project work for U.S. Bank, Olson said there are no conflicts among its financial service clients.
The agency has recently added new clients like Sharp Electronics, Guaranteed Rate and the McDonald’s Twin Cities Co-Op business.