NEW YORK Vanguard Group today confirmed a review of its business now handled by WPP Group's Y&R Brands.
"Vanguard is conducting a full advertising agency search as part of our standard due diligence practice. It has been several years since our last agency review," said Linda Wolohan, a rep at the investment management company. "The current agency of record, Y&R Brands, covers all of Vanguard's domestic business lines and will be part of the review."
WPP's MediaCom is Vanguard's media incumbent; it could not immediately be determined if that shop is participating in the review.
In 2008, Vanguard spent $31 million in domestic measured media, nearly double the $17 million the company spent in '07, per Nielsen. From January through May of this year, Vanguard spent $13 million on ads. (Online spending is not included in those amounts.)
In November, the mutual funds and annuity provider contacted search consultants about managing a review of creative and media duties on its U.S. account. It could not be determined which consultant, if any, was selected to oversee the process.