In 14 years of working on TD Ameritrade, Ogilvy & Mather has survived a series of marketing chief changes. Not the latest one, however.
Ogilvy has been cut from the online investment site’s ongoing creative review and the contest is now between Mullen and Goodby, Silverstein & Partners. A TD Ameritrade representative acknowledged that the process is in its final phrase, but declined to discuss specifics.
TD Ameritrade is among the bigger players in online trading, at least in terms of media spending. Last year, the brand spent more than $165 million in media, up slightly from $162 million in 2009, according to Nielsen. Those figures don’t include online expenditures.
The business in play includes advertising as well as digital and direct marketing.
The creative review began in the spring, after TD Ameritrade named Phillip Bowman to the role of chief marketing officer. Bowman, who shifted from svp of marketing at TD Bank— Ameritrade’s largest shareholder—filled a vacancy left by the January exit of Laurine Garrity, who landed at Charles Schwab.
Ogilvy’s tenure on the business dated back to 1997, when the agency launched the Ameritrade brand online. In 2006, Ameritrade acquired TD Waterhouse to become TD Ameritrade, whose headquarters is in Omaha, Neb. Ogilvy handled the account at its New York office.