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Arnold Adds to Fidelity Cache

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BOSTON Arnold has added additional work from Fidelity Investments' institutional investor services operations.

The assignment was awarded to the Boston-based agency following a review of undisclosed shops led by Joanne Davis Consulting in New York. Work for the unit had previously been handled in-house [Adweek, May 3].

Arnold's parent company, Paris-based Havas, confirmed the appointment in an earnings statement today but did not elaborate, nor did Arnold president Fran Kelly. A client representative could not immediately be reached and the consultant declined comment.

Sources estimated the assignment in the $1-5 million range and said it consists mainly of below-the-line chores such as direct, online and collateral marketing initiatives targeting large corporations. Some print ads may also be in the mix, sources said.

Arnold is Fidelity's lead agency, having retained the client's estimated $75 million account in a review earlier this year.