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Southeast, Texas Agencies Are Considered For Invesco Funds Group's $5-7 Mil. Account

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The Boston Group here is set to defend its position as creative and media agency for Invesco Funds Group, the mutual funds company based in Denver.
"[The Boston Group] was invited to participate in the review process," said Steve Moran, director of advertising at Invesco Funds Group. "They returned our [request for proposal] and are under consideration," he said.
Executives at the agency did not return calls by press time.
About 20 shops have returned review materials, and client officials last week were in the process of determining which shops would be invited to move forward in the process, said Moran.
Sources estimated that the account is worth about $5-7 million. Moran declined to discuss annual billings. He also did not elaborate on why the account was being reviewed.
Sources said the financial services firm is seeking a larger agency with offices closer to its main bases of operation in Denver and Atlanta, where Invesco's parent company, Amvescap, is based.
California, Texas and several Southeastern agencies that claim between $50 million and $100 million in annual billings were among those that returned materials to Invesco, sources said.
The process is "a nationwide search," according to Moran, who noted that geography played "some" role but was not an overriding issue in terms of selecting contenders.
Large and midsized shops with at least some financial services or mutual funds experience--and no clear client conflicts--are believed to have been targeted. Moran said he hopes to announce a list of contenders as soon as this week and make an agency selected by Oct. 1.
The Boston Group won the Invesco account late last year without a formal review. It is believed to be one of the agency's largest pieces of business.
The shop created a $5 million national newspaper and magazine campaign that broke early this year in The New York Times, The Wall Street Journal and other business and financial publications.
The executions were noted for their distinctive "triangle headline" artwork, which gave the ads a somewhat hipper look and feel than most mutual funds advertising.