Ogilvy & Mather has won E*Trade less than a month after Grey resigned the account, sources said. The move to a fellow WPP Group shop comes after an agency review was called but never progressed.
E*Trade spent $112 million in measured media in 2012, according to Nielsen.
The agency search was launched by new E*Trade CMO Liza Landsman, who joined the discount broker in May. She had previously been global head of digital at investment company BlackRock which has been working with OgilvyOne in relationship marketing for investment products like U.S. iShares exchange-traded funds. Earlier in her career, Landsman worked at Ogilvy client IBM.
E*Trade was set to send out non-disclosure agreements on June 27 and RFPs the following week, sources said. A search consultant was also reportedly lined up but the review never went beyond some “polite conversations,” said a source.
E*Trade did not respond to inquiries.
In late June, Landsman released a statement about beginning an agency search.
“We recently began a search to identify the best-suited agency to help drive our branding and advertising through the next phase of our evolution,” she said. “Grey N.Y., our agency of record for the past six years, has decided not to participate in this process. They are a terrific partner and we are deeply appreciative of their wonderful contributions. As we look to the future, we are excited about the ongoing opportunities for our business and the great platform and assets we can leverage as we write our next chapter with new partners.”
Grey had worked closely with Landsman’s predecessor, Nick Utton, the CMO behind the agency’s popular talking babies campaign.