Security Capital Group in Chicago has awarded its advertising assignment to Cohn Godley Norwood here.
The Boston shop was tapped to promote the client's mutual fund offerings, following a review [Adweek, April 20]. Billings are $3-5 million and are likely to grow, according to Skip Pile, president of Pile and Co., the Boston-based management consulting firm that oversaw the competition.
Cohn Godley beat out Allen & Gerritsen in Watertown, Mass., and Doremus, New York.
Officials at Security Capital's Chicago office did not return calls.
There was no incumbent. The company has done very little advertising in the past.
Sources close to the process said Cohn Godley's work for San Francisco-based discount brokerage Charles Schwab--which may offer Security Capital's funds--put the agency over the top. "What was really exciting about this was that they're looking for a real partnership," said Ben Godley, president of Cohn Godley. "We're going to help them create a category."
Campaigns are expected to be print-based and national in scope. Advertising efforts will seek to establish a brand identity for the client's mutual funds, a new business for the publicly traded company that last year claimed $106 million in net income on sales of $368 million, primarily from its real estate investments.
Security Capital is a global real estate research, investment and operating management company with a controlling interest in $10 billion worth of commercial real estate in the U.S., as well as overseas holdings.
Client representatives will fly to Boston this week to begin plotting the next step, according to Godley.
Cohn Godley has been one of the region's hottest small shops in recent years. Its revenues rose 57% last year to $4.8 million, and its billings climbed 59% to $32 million.
--with Sarah Jones